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Average Performance for Housing Market in 2012

Bill Ethier - Victoria, BC. Real Estate — Sat, 28 Jan 2012 01:39:06 +0000

БогородицаAverage Performance for Housing Market in 2012
BCREA 2012 First Quarter Housing Forecast Update

The British Columbia Real Estate Association (BCREA) released its 2012 First Quarter Housing Forecast Update today.

“Modest economic growth at home and abroad is expected to limit growth in consumer demand both this year and in 2013,” said Cameron Muir, BCREA Chief Economist.

BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 2.1 per cent from 76,817 units in 2011 to 78,400 units this year, increasing a further 2.7 per cent to 80,500 units in 2013. The 15-year average is 79,000 unit sales. A record 106,310 MLS® residential sales were recorded in 2005.

“While European sovereign debt concerns and a sluggish US economy will continue to impact consumer confidence, strong demand in the bond market is expected to keep mortgage interest rates at or near record lows for most of 2012,” added Muir.

Home prices in most BC markets are forecast to experience little change over the next 24 months as the supply of homes for sale more closely matches consumer demand. The average MLS® residential price in the province is forecast to edge down 2.2 per cent to $548,500 this year and remain relatively unchanged in 2013, albeit increasing 0.8 per cent to $553,000.

For a PDF version of this news release, including data table, follow this link:
http://www.bcrea.bc.ca/docs/news-2012/2012-01-27forecast.pdf.

If you are planning to purchase real estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.comor just email Bill and Dave.

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Weekly Mortgage Rate Update – Real Estate Victoria BC

Bill Ethier - Victoria, BC. Real Estate — Sat, 28 Jan 2012 01:35:29 +0000

Weekly Mortgage Rate Update from DLC Prime Mortgage Works Inc and Properties in Victoria Professionals™.

Mortgage Rates Effective : January 27, 2012

Term	Our Best Rate		Bank Rates
6 Month Open	5.45%		6.70%
6 Month Closed	2.89%		4.55%
1 Year	2.75%		4.30%
2 Year	2.89%		3.95%
3 Year	2.89%		4.55%
4 Year	2.99%		4.99%
5 Year	3.25%		5.39%
6 Year	3.99%		6.30%
7 Year	3.89%		6.35%
9 Year	4.89%		5.42%
10 Year	4.49%		6.75%
Line of Credit	P+.50%		Prime
3 Year Variable	P-.10%		Prime
5 Year Variable	P-.20%		Prime
Prime Rate		3.00%

* Rates are Subject to Change Without Notice

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Royal LePage House Price Survey and Market Survey Forecast

Bill Ethier - Victoria, BC. Real Estate — Mon, 23 Jan 2012 23:14:15 +0000

Богородица

Royal LePage predicts further home price appreciation, contrary to recent talk of decline: National real estate price correction not likely until 2013 at the earliest

The Royal LePage House Price Survey and Market Survey Forecast released on January 12 showed the average price of a home in Canada increased between 3.6 and 6.1 per cent in the fourth quarter of 2011, compared to the previous year. Royal LePage expects average price growth to continue through 2012 and predicts national average prices to increase by 2.8 per cent by the end of the year.

Despite calls in some quarters for Canadian house prices to soften in 2011, the market proved resilient as demand created by low interest rates and a relatively stable national economy created upward pricing pressure for all housing types surveyed. Further, recent high profile reports forecasting significant house price declines in 2012 are not supportable. Nationally, consumer confidence in the housing market was high in the fourth quarter as real estate brokers witnessed an unusually high quantity of multiple offer situations, including over the holiday season, compared to same period in previous years. Read the full press release.

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K

Ocean View Condo for Sale – Real Estate Victoria BC

Bill Ethier - Victoria, BC. Real Estate — Fri, 20 Jan 2012 23:31:06 +0000

Properties in Victoria Professionals™ are proud to present a luxury 2 bed 2 bath condo for sale in Victoria BC

Steel, concrete, glass and granite all come together to create a spacious and elegant 2 bedroom with den view home near downtown. With all principle rooms having floor to ceiling expansive southern vistas over the Juan de Fuca Strait & the Olympic Mountains, it’s hard to remember you are walking distance to downtown’s amenities. Features abound, highlighted by a 200 sqft deck, wonderful open concept kitchen and living areas, 2 full baths, and a very functional den that can double as a guest room. The building boasts a resident owner-manager, secure covered parking, and is located next to a full service shopping centre. Beautifully presented, this condo will make a wonderful home. Professionally measured at 1068 sq.ft

For more information this property including floor plans please click here

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Weekly Mortgage Rate Updates – Victor BC Real Estate

Bill Ethier - Victoria, BC. Real Estate — Fri, 20 Jan 2012 23:18:02 +0000

Weekly Mortgage Rate Update from DLC Prime Mortgage Works Inc and Properties in Victoria Professionals™.

Mortgage Rates Effective : January 20, 2012

Term

Our Best Rates

Bank Rates

6 Month Open

5.45%

6.70%

6 Month Closed

2.89%

4.55%

1 Year

2.75%

4.30%

2 Year

2.89%

3.95%

3 Year

2.89%

4.55%

4 Year

2.99%

4.99%

5 Year

3.15%

5.39%

6 Year

3.99%

6.30%

7 Year

3.89%

6.35%

9 Year

4.89%

5.42%

10 Year

3.89%

6.75%

Line of Credit

P+.50%

Prime

3 Year Variable

P-.10%

Prime

5 Year Variable

P-.20%

Prime

Prime Rate

3.00%

* Rates are Subject to Change Without Notice

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Toronto Market Update – Real Estate

Bill Ethier - Victoria, BC. Real Estate — Mon, 16 Jan 2012 22:46:13 +0000

Greater Toronto REALTORS® reported 4,718 transactions through the TorontoMLS® system in December 2011. The December result capped off the second-best year on record under the current Toronto Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010.

“Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” said TREB President

Richard Silver. “If Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater

Toronto Area,” added Silver.

The average selling price in December was $451,436 – up four per cent compared to

December 2010. For all of 2011, the average selling price was $465,412, an increase of eight per cent in comparison to the average of $431,276 in 2010.

“Months of inventory remained below the pre-recession norm in 2011. Very tight market conditions meant substantial competition between Buyers and strong upward pressure on selling prices,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“TREB’s baseline forecast for 2012 is for an average price of $485,000, representing a more moderate four per cent annual rate of price growth. This baseline view is subject to a heightened degree of risk given the uncertain global economic outlook,” continued Mercer

For the full report please click here

For more information on the Toronto Real Estate market please contact Paul Delaney. He has been consistently ranked in the Top 1% of all Royal LePage REALTORS® in Canada since 1999. His professionalism and integrity will impress you from the first meeting though the whole process and years after.

If you are planning to purchase Real Estate in Victoria BC in the future, just let us know. Our team of professionals has the knowledge and the know how to meet your needs. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website www.PropertiesInVictoria.com or just email Bill and Dave

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Weekly Mortgage Rate Update – Real Estate Victoria BC

Bill Ethier - Victoria, BC. Real Estate — Mon, 16 Jan 2012 18:33:49 +0000

Weekly Mortgage Rate Update from DLC Prime Mortgage Works Inc and Properties in Victoria Professionals™.

Mortgage Rates Effective : January 16, 2012

Term Our Best Rate

Bank Rates

6 Month Open

5.45%

6.70%

6 Month Closed

2.89%

4.55%

1 Year

2.75%

4.30%

2 Year

2.69%

3.95%

3 Year

2.89%

4.55%

4 Year

3.25%

4.99%

5 Year

3.19%

5.39%

6 Year

4.09% 6.30%

7 Year

3.89%

6.35%

9 Year

4.89%

5.42%

10 Year

3.89%

6.75%

Line of Credit

P+.50%

Prime

3 Year Variable

P-.10%

Prime

5 Year Variable

P-.20%

Prime

Prime Rate

3.00%

* Rates are Subject to Change Without Notice

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

The Perfect Rancher in Colwood – Real Estate Victoria BC

Bill Ethier - Victoria, BC. Real Estate — Sat, 14 Jan 2012 01:59:53 +0000

Perfect for the first time buyer, small family or someone wanting to down size! Charming no step rancher conveniently located near the water in Colwood. Measuring over 1350 sq ft. plus attached garage, this beautifully presented 2 bed 2 bath home has been well maintained and cared for and has had numerous updates over the years: Bathrooms, baseboards, fixture, network cabling etc. Save on electical bills with a warm and inviting wood insert in the living room for those cold winter nights. Close to shopping, buses, Wittys Lagoon, Esquimalt Lagoon and Waterfront Park. Fully fenced and level yard with patio for entertaining.

For more information this property including floor plans please click here

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Moderate Increase in Consumer Demand – Real Estate Victoria NC

Bill Ethier - Victoria, BC. Real Estate — Fri, 13 Jan 2012 18:28:39 +0000

BC Home Sales Increase in 2011

The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC climbed 14.3 per cent to $43.1 billion in 2011. A total of 76,817 homes were sold in BC in 2011, up 2.9 per cent from 2010. The average annual MLS® residential price climbed 11.1 per cent to $561,026 over the same period.

“Low mortgage interest rates and gradually improving economic conditions contributed to a moderate increase in consumer demand last year,” said Cameron Muir, BCREA Chief Economist. “BC home sales came in about on par with their 15-year average, but fell well below their ten-year average of over 88,000 units.”

Vancouver, the Fraser Valley and the North experienced the largest percentage increase in unit sales last year, while consumer demand edged lower in Victoria and on Vancouver Island.

BC residential unit sales in December dipped 1.7 per cent to 4,186 units, while the average MLS® residential price was 2.8 per cent lower than in December 2010.

For the complete news release, including detailed statistics, click here.

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty

Weekly Mortgage Rate Update – Real Estate Victoria BC

Bill Ethier - Victoria, BC. Real Estate — Sat, 07 Jan 2012 15:12:09 +0000

.

Weekly Mortgage Rate Update from DLC Prime Mortgage Works Inc and Properties in Victoria Professionals™.

Mortgage Rates Effective : January 6, 2012

Mortgage Rates Effective: January 6, 2012 Term	Our Best Rate		Bank Rates
6 Month Open	5.45%		6.70%
6 Month Closed	4.40%		4.55%
1 Year	2.75%		4.30%
2 Year	2.69%		3.95%
3 Year	2.99%		4.55%
4 Year	3.29%		4.99%
5 Year	3.25%		5.39%
6 Year	4.09%		6.30%
7 Year	3.89%		6.35%
9 Year	4.89%		5.42%
10 Year	4.39%		6.75%
Line of Credit	P+.50%		Prime
3 Year Variable	P-.10%		Prime
5 Year Variable	P-.20%		Prime
Prime Rate		3.00%

4.09%

* Rates are Subject to Change Without Notice

Properties in Victoria Professionals™- Royal LePage Coast Capital Realty