Christmas is a Special Time to remember Special Friends, Family, and those fond memories of those no longer with us. A Season to give thanks and appreciate, where we are, where we want to be, and take the time to remember those along the way. Holiday Blessings from my house to yours, and may the Magic of Christmas be with all of us this Holiday Season. Thank You!!
Being debt free is the ultimate financial personal goal for most people. There are many articles advising us about re- financing to get out of debit, that we may automatically assume that debit is a bad thing. However, on the flip side , borrowing is not a bad thing, its being able to manage your debt.
BUYING A HOME
Many people cannot afford to buy a house without borrowing. A mortgage is a ernomous financial responsibility, a large debit, but it is a better financial proposition than renting. Getting a mortgage is like having an investment for the future. It offers the prospective of living debt free in 25 or 30 years. Furthermore, because it is secured against the value of your house, the ineterest rate is likely to be relatively low. Be sure to speak with a Financial Advisor, how much you can afford to put down and how much of a loan you can carry. The more you put down, the less you will owe, and the less you will pay in interest over time.
Vancouver Island Average Residential Home Price Listed in September, 2011 $332.741 vs September , 2011 $319,531 represents a 4.1 Change
Vancouver Island Residential Listings September, 2011 were 6, 192, vs September 2010 6,031 represents a 2.7 change
Vancouver Island Residential Sales in Dollar volume $188,997 Sold vs September 2010, $157,209 sold represents a 20.2% change
Average Price of a home Sold on Vancouver Island in September, 2011 was $328, 539 vs September, 2010 $329,792, a decrease of -.04%
Sales throughout the Cowichan Valley remain weaker than throughout the Comox Valley.
Relying on the advice of a REALTOR, it is very important to be property informed on market conditions might affect the results of your Real Estate Invemtment.
Vancouver Island REal Estate Board, Multiple Listing Service ( MLS) Sales Summary released by VIREB for May , 2011 for the Cowichan Valley, shows five percent decrease in single family residential unit sales or May 2010, and 74 single family residential units sold in May 2011, and 78 in April 2011. The average price of a single family unit sold in May 2011 $329,221, which reflects a nine percent decrease over May 2010, the average single family home selling price $362,665.
The President of VIREB says: ” We are seeing long term stability in the market with no dramatic upward pressure on prices expected. Although you need to look at a larger window than one month to establish a trend it is encouraging to see consumer interest in our smaller markets of Campbell River and Port Alberni.
The Comox Valley reported 100 single family residential units Sold in May 2011, 98 units in May 2010, a two percent increase. The Average Selling price in Comox Valley in May 2011 $366,727, in May 2010 $344,890, a six percent increase.
The BC Real Estate Association ( BCREA) report that MLS residential sales in the province declined 36 percent to 5,507 units in October compared to the same month last year. The average MLS residential price in October on Vancouver Island was $237, 963, a 43% decrease. 439 Units were sold in October 2010, and 750 Residential units in 2009, a overall decrease of 41.5%.
Vancouver Island 2010 Year to Date statistics report Unit Sales 5747 with an average Selling Price of $327,939. An overall increase of 3.6% in Unit Sales from 2009.
In the month of July, you’re almost guaranteed to have at least some good weather. I certainly hope you get a chance to enjoy it.
In fact, if you are reading this, and you are one of my clients, I hope you are enjoying spending extra time on your patios, cooking up a storm on their BBQ’s, and socializing with friends and family.
Speaking of socializing, I don’t often get a chance to talk to you personally, have a wonderful summer, enjoy the weather.
If your thinking of making a change with your real estate investment, have any real estate questions, please do not hesitate to contact me at any time.
All the Best, enjoy those Lazy days of Summer.
Helena
Market Watch - February 2010 Real Estate Sales start off Strong
The Canadian Housing Market has rebounded well from the low sales experienced at the beginning of 2009. Sales have climbed back to healthy levels across the country because the cost of home ownership has remained affordable in most areas, and interest rates have not increased.
Increasingly confident consumers moved to take advantage of the afforability created by lower interest rates.
While low mortgage interest rate continue to entic many home buyers through the spring market, consumer demand is expected to moderate from its frentic year-end pace.
