By now you should have received your 2014 tax assessment notice. If you think that you are assessed too high you have until January 31st to appeal it. We will assist you free of charge by providing you with an analysis of the market value of the property. We will also contact BC assessment on your behalf and attend the appeal board if required. Remember - you only have until January 31st.  Call us today at 604-466-4549 or email don@thepearceteam.com 

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market.

These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013.

This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.

“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent compared to September 2013. The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is $600,700. This represents a 0.5 per cent decline compared to this time last year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units sold in October 2011. The benchmark price for detached properties decreased 0.5 per cent from October 2012 to $922,600.

Sales of apartment properties reached 1,098 in October 2013, an increase of 36.7 per cent compared to the 803 apartment sales recorded in October 2012, and an increase of 14.6 per cent compared to the 958 sales in October 2011. The benchmark price of an apartment property decreased 0.9 per cent from October 2012 to $365,600.

Attached property sales totaled 496, an increase of 46.7 per cent compared to the 338 attached property sales recorded in 2012 and a 29.8 per cent increase compared to the 382 attached property sales recorded in October 2011. The benchmark price of an attached property is $458,000, which is virtually unchanged from October 2012.

Video by Greater Vancouver Real Estate Board president on the market year to date.
http://www.youtube.com/watch?v=vgaMx0zJ2YU

The prospect of a work relocation means you'll need to be well organized as there’s usually not much time to get acquainted with your new area.

First off, determine the cost of living in the new community. There's no point in relocating for a higher salary if the extra income's eaten up by increased living expenses.

Make sure you also consider other factors such as work load, expense accounts and travel expectations. Here are a few other points to keep in mind:

1. Get to Know the Location - Plan a trip to familiarize yourself with the local area. If it's too far to preview in person, check out a few community websites.
   
   
2. Select a Real Estate Agent - Choose a real estate agent to list your home and ask them to refer you an agent who can help you become familiar with the market in your new city.
   
   
3. Create a Moving Checklist - A detailed checklist will help ensure your move goes smoothly and will reduce the stress that’s associated with a major move.
   
   
4. Relocation Benefits - Employers will often provide relocation packages to help offset expenses such as temporary housing and moving costs.

Deciding whether or not to relocate can be very stressful. Not only are you trying to negotiate a career move but you're also starting a new life in an unfamiliar place. If you approach this process by paying close attention to all the details, you'll enjoy a much more positive relocation experience. Please get in touch if you have questions or need any real estate advice.

The holiday season is a great time of year but it's also a time of great waste. Here are a few things you can do to enjoy an eco-friendly holiday season:

1. Decorate Naturally - Bring the scent of nature into your home with holly, evergreens, fir cones and cranberries.
   
   
2. Think Outside the Box - All those gift bags, ribbons and bows account for an incredible amount of waste so try and reuse old wrapping paper.
   
   
3. Light Up Mindfully - Everyone loves the twinkle of holiday lights but for the sake of the environment, use LED lights and remember to turn them off before going to bed.
   
   
4. One, Two, Tree - Real trees take in carbon dioxide and release oxygen as well as help sustain the rural economy whereas artificial trees can't be recycled, aren't biodegradable and may contain toxins.

The holiday season is a great opportunity to start eco-friendly family traditions that can be passed down from generation to generation. Better still, these methods can be as easy on your wallet as they are on the environment!

Holiday parties make it easy to overindulge. Here are a few simple tips that'll help you enjoy the festivities without having to worry about packing on the pounds:

1. Don't Go Hungry - You're much more likely to overindulge if you face a buffet of delicious food on an empty stomach so have a healthy snack before you make your grand entrance.
   
   
2. Hold the Drink - Limit your alcohol consumption as alcoholic drinks are full of empty calories. Try to substitute alcohol for sparkling mineral water.
   
   
3. Get Active - Don't give up your usual exercise routine just because it's the holidays. If you do, the weight will pile on and it'll be more difficult to get back into the routine once the holidays are over.

Enjoying festive holiday parties doesn't have to equal weight gain. If you watch your intake and keep your physical activity up, you'll be able to start the year off in style – and in the same size clothes!

The following is taken from the Canadian Bar Association website, with permission and courtesy of Spagnulo Legal Services. This page discusses why you should have a will, and how your estate is handled if you do not.

Why should you make a will?

Every adult should have a will, but especially those who own assets or have a spouse and/or young children. The few hours that you spend with a lawyer planning your estate could save your spouse, children and other beneficiaries much time, effort and money.

By not having a will, you lose control over who and how your estate is distributed and more importantly, you also give up the right to appoint a guardian of your choice for any young children you have.

If you are reading this without a current will, you are not alone. Many people do not have a will, and one reason is usually the cost. Believe us, the costs to administer your estate without a will may be dramatically more than if you had a will. In the long run, a will may be basically free, given the savings your estate may realize.

How will your estate be divided if you die with or without a will?

If you die with a will, you decide how your estate will be divided and at what ages your children will receive their share of the estate.

If you die without a will, BC’s Estate Administration Act dictates how your estate will be divided. You lose control of the estate, and the following rules will apply:

If you own a home as "joint tenants" then ownership of the home will transfer to your spouse. But if you own the home and your spouse is not on title or if you own the home as "tenants in common" your spouse will have the right to use it for life. This is called a "life interest" and can tie up the estate for a long time if money from the sale of the home is to go to someone other than the spouse.

Your spouse receives the first $65,000 of your estate. If you have children then your spouse and children share what’s left – equally if you have one child, and if you have more than one child, then one-third to the spouse and the remainder equally to your children. If you have no children, then your spouse gets everything. Children born outside of marriage are treated the same way as other children in the family. Step-children are currently excluded.

There are rules if no spouse, or if your spouse predeceases you, or if no children, etc. The important item is that you lose control over your estate, who receives what, and when.

When would the children get their share?

If you have a will, you appoint the executor and trustee for the child, and you decide when your children receive their share. Prior to them attaining the age you set out, the share may be used for the child’s benefit, including support and higher education, without government involvement.

Without a will, the Public Guardian and Trustee’ Office becomes the trustee and holds the child’s share in trust until they’re 19 years old. The child’s guardian would have to apply to the Public Guardian and Trustee for any money needed for things like living expenses or education. This can be a hardship if the child is quite young and the parent or guardian needs the money for day-to-day expenses. When the child turns 19, he or she can demand all of their money no matter how much it is, regardless of their maturity or financial responsibility.

Who takes control of your estate if you die without a will?

In a will, you can name an executor to manage your estate when you die. You can also name a guardian to look after any infant children. If you die without a will, then an administrator must be appointed by the court to manage your estate. The court will also appoint a guardian if you have children under 19 and the other parent isn’t alive. Your wishes may not be carried out, as the courts will make the decisions.

Estate planning and making a will is very important

Making a will involves much more than just signing a document. It involves reviewing your potential estate and planning to minimize the costs of probate and administering your estate. Between spouses, and to some extent children, there are many legal ways to avoid paying substantial probate costs, administration costs, Public Guardian and Trustee expenses, and income taxes.

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market.  These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013.

This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013.  This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.

“We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said.  “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent compared to September 2013.  The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is $600,700.  This represents a 0.5 per cent decline compared to this time last year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units sold in October 2011.  The benchmark price for detached properties decreased 0.5 per cent from October 2012 to $922,600.

Sales of apartment properties reached 1,098 in October 2013, an increase of 36.7 per cent compared to the 803 apartment sales recorded in October 2012, and an increase of 14.6 per cent compared to the 958 sales in October 2011.  The benchmark price of an apartment property decreased 0.9 per cent from October 2012 to $365,600.

Attached property sales totaled 496, an increase of 46.7 per cent compared to the 338 attached property sales recorded in 2012 and a 29.8 per cent increase compared to the 382 attached property sales recorded in October 2011.  The benchmark price of an attached property is $458,000, which is virtually unchanged from October 2012.

I was taking a look at historic prices on different types of properties in the Maple Ridge area and looking at year to date average prices.  In 2010 the year to date average price of a single family home was $503,989 and this October the year to date price is $500,577 or less than 1/2 of a percent difference.  The year to date number of sales was 823 in 2010 and this year was 821, almost identical. Our single family market is basically unchanged in 3 years.

The year to date average price of townhouses was $309,696 in 2010 and this October the year to date average price is $292,626 which represent a decrease over the last 3 years of 5.5%. The year to date number of sales was 294 in 2010 and this year was 244, a 17% decrease in sales.

The year to date average price of condos was $223,042 in 2010 and this October the year to date average price is $191,496 which represent a decrease over the last 3 years of 14% . The year to date number of sales was 179 in 2010 and this year was 150, a 16% decrease in sales.

One of the things that has affected our market over the last 3 years is the federal government tightening credit in the housing industry. They reduced amortization periods from 40 years to 35 years to 30 years and now 25 years on high ratio mortgages. This has effectively taken a lot of the first time buyers out of the market and the visible result is the decline in average prices in condos and townhouses. These properties were often the product of choice for someone looking for their first home.

Pitt Meadows and Port Coquitlam are both very similar with minimal decreases in prices since 2010. When looking at Coquitlam, the prices there have had substantial increases over 2010 pricing.

For details on your area just call Don at 604-466.4549 or email donpearce@telus.net

If you plan on selling your home in the near future, you'll want to tackle any necessary repairs ahead of time as buyers will be completely turned off if your home appears to have been neglected.

Buyers also factor fix-up jobs into the purchase price, often overestimating the costs involved, so it's best to just take care of them yourself.  Here are a few repairs to consider:

1. Grimy Grout - Dirty grout is a real turn off, so apply new caulking to freshen up the entire room.
   
   
2. Fresh Paint - Fill in all holes and cracks in the walls before painting.  Make sure to repair and paint your baseboards so they don't look beaten up compared to your fresh walls.
   
   
3. Rough Roof - If your roof needs replacing, it's better to do it before you sell as buyers get so turned off by the cost and hassle that it could be a potential deal breaker.
   
   
4. Curb Appeal - Your home needs to make a perfect first impression so patch cracks in the driveway, caulk windows, spruce up your porch and invest in some landscaping.
   
   
5. Dripping Faucets - A dripping tap can signal expensive plumbing repairs to buyers.  It'll probably only need a new rubber washer that costs less than a dollar so get it fixed!
   
   
6. Kitchen is Key - Kitchens are critical and can make or break a sale.  Repainting cabinets, adding new hardware or installing a new countertop are all worthwhile investments.

Buying a home is an emotional experience so it's critical to create an incredible first impression that'll make buyers want to own your home the moment they set eyes on it!  Although it may initially seem like a hassle to repair a home you'll soon be moving out of, it'll be well worth the time and money in the end.

Pesticides are chemicals used in conventional agriculture and these residues remain on the food we eat even after they're washed.

Research clearly shows that pesticides and chemicals in food adversely affect our health.  The more we avoid exposure to these hazardous pesticides, the better.

All certified organic foods must be produced according to strict rules and regulations.  Foods labeled "100% organic" must contain only organic ingredients while those labeled "organic" must contain at least 95% organic ingredients.

Buying organic food can be expensive so we've created a list of some popular fruits and vegetables that contain both the highest and the lowest levels of pesticides.  This way, you'll be able to make informed, healthy choices without spending a fortune.

Smishing is the SMS (short message or text) version of email phishing where cyber criminals hook you through texts asking you to call a number or visit a website so they can steal your information.

The latest identity theft scam starts with a text saying your debit card is blocked and then directs you to a website that asks you for various personal details in order to lift the hold.

You’ll soon start to see the traditional lottery and cruise scams coming via texts so don't let your guard down just because they're texts and not emails as scammers are relying on this new phishing scheme to lure in their victims.

Home buyer and seller activity in the Greater Vancouver housing market continues to far outpace 2012, yet is in line with the region’s 10-year averages.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,483 on the Multiple Listing Service® (MLS®) in September 2013.

This represents a 63.8 per cent increase compared to the 1,516 sales recorded in September 2012 and a 1.2 per cent decline compared to the 2,514 sales in August 2013.

Last month’s sales were 1 per cent below the 10-year sales average for the month while new listings for the month were 3.5 per cent below the 10-year average.

“While sales are up considerably from last year, it’s important to note that September 2012 sales were among the lowest we’ve seen in nearly three decades,” Sandra Wyant, REBGV said. “Home sale and listing activity this September were in line with the 10-year average for the month.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,030 in September. This represents a 5.5 per cent decline compared to the 5,321 new listings reported in September 2012 and a 20.2 per cent increase compared to the 4,186 new listings in August of this year.

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 16,115, a 12.2 per cent decrease compared to September 2012 and a 0.5 per cent increase compared to August 2013. The sales-to-active-listings ratio currently sits at 15.4 per cent in Greater Vancouver.

“It’s important to remember that stronger sales activity does not necessarily equate to rising home prices. In fact, home prices have not fluctuated much in our market this year,” Wyant said.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is currently $601,900. This represents a decline of 0.7 per cent compared to this time last year and an increase of 2.3 per cent compared to January 2013.

Sales of detached properties reached 1,023 in September 2013, an increase of 72.2 per cent from the 594 detached sales recorded in September 2012, and a 6.9 per cent increase from the 957 units sold in September 2011. The benchmark price for detached properties decreased 1.4 per cent from September 2012 to $922,600.

Sales of apartment properties reached 1,018 in September 2013, an increase of 50.6 per cent compared to the 676 sales in September 2012 and an increase of 10.4 per cent compared to the 922 sales in September 2011. The benchmark price of an apartment property decreased 0.5 per cent from September 2012 to $366,600.

Attached property sales in September 2013 totalled 442, an increase of 79.7 per cent compared to the 246 sales in September 2012, and a 20.4 per cent increase from the 367 attached properties sold in September 2011. The benchmark price of an attached unit is currently $458,300, which is unchanged from September 2012.

Real Estate Board President-elect on our September Market - Just click the link.

http://www.youtube.com/watch?v=7navXA3jPIY&feature=youtu.be