Most people complain about items left at a home which should have been moved, but what about the items that you would really appreciate being left?
Such as:
Warranty and Manuals for the appliances, etc.
Lightbulbs that fit oddly sized light fixtures
Extra hardware that matches the current, just in case
Breakdown list of what plants are what outside (so that the new buyer doesn’t have to research what they are to care for them)
Extra facts about the home that isn’t pertinent in the buying process

What else can you think of that you wish would have been left behind?

Curiosity may have killed that cat.  But you’re not a cat. And curiosity is a good thing.

(Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 1,269 sales in February, an increase of 59 per cent compared to January and a 1 per cent decrease compared to the 1,279 sales during February of last year.

In terms of new listings, the Board received 2,846 in February, an increase of 3 per cent compared to January and a 6 per cent decrease compared to the 3,038 listings received last February, taking the total number of active listings to 9,037, an increase of 4 per cent compared to those available in February 2011.

As Board President Scott Olson explains, a seasonal increase in sales is typical for February; however this increase was not as robust as in years past. February’s sales finished at 4 per cent fewer than the 10-year average for that month.

“Although our market has picked up, it’s still favouring buyers. In terms of our clients, we’re seeing more caution and deliberation when house hunting.

“This could mean using a home inspection as part of negotiations, or asking for extras to be thrown in, or the client walking away if terms are not met. The other side is that selection at certain price points is limited depending on location, so if the buyer finds the right home, they act, which is keeping prices stable.”

The MLS® HPI benchmark price of a ‘typical’ detached home in Fraser Valley in February was, $569,200, an increase of 8.3 per cent compared to $525,400 last year. The benchmark price of Fraser Valley townhouses increased by 2.0 per cent in one year, going from $305,700 in February 2011 to $311,900 in February 2012, while the benchmark price of apartments increased by 0.6 per cent going from $200,200 in February of last year to $201,500 in February 2012.

Olson adds, “We anticipate the new HST transition rules will generate more buying activity of new homes over the coming months and will have a spill-over effect on the resale market. The majority of new homes in the Fraser Valley fall under the new $850,000 HST rebate threshold and first-time buyers will be taking advantage of the refundable tax credit bonus of up to $10,000 available until March 31, 2013.

“These changes will improve accessibility in the Fraser Valley, a region already recognized for its affordability.”

FVREB News Release March 2, 2012

I was catching up on a backlog of reading last weekend when I came across an interesting, if worrisome, article in The Economist. In it, the British newsmagazine suggested the Canadian real estate market is overvalued by 25 per cent or more, and is now “frothier” than the U.S. market was at its peak in 2008.

A provocative suggestion, one sure to make millions of Canadian homeowners a little concerned. For better or worse, real estate remains a significant asset for most Canadian families. If our real estate market is in bubble territory, the financial implications would be serious.

Now, by no means am I an expert real estate investor. I’ve owned each of the principal residences I’ve lived in over the past 25 years, and they’ve all done reasonably well for me. But real estate is not the focus of my portfolio, and beyond the old adage about “location, location, location,” I have little in the way of secret wisdom or guru-like tips to pass on to real estate investors.

The wealthy people I know, however, are quite another story. Many of the smartest, wealthiest people I have ever met have made millions in real estate. These people are shrewd investors. Real estate is something they talk about often, and when they do, I listen.

Based on these conversations, I would say high net worth (HNW) investors seem to be pulling back from the Canadian real estate market. Not exiting altogether, mind you. But instead of allocating new money by buying Canadian residential property, they’ve decided to invest in real estate in a different way.

The following four “profiles” describe some of the different approaches HNW individuals are currently using to invest in real estate. I offer them as a jumping off point for how you might allocate your own real estate assets, no matter what your net worth.

The developer
Many HNW real estate investors are in fact real estate businesspeople. They tend to be highly experienced investors with detailed knowledge of a particular market, along with a vision for what a particular piece of property could be (as opposed to what it is now). They are prepared to take big risks. But they can reap equally big rewards.

Playing the development game requires a strong stomach and deep pockets. It also requires a somewhat paradoxical mindset. On one hand, bringing a property from raw land to completion can take years, so patience is a necessity. On the other hand, once a site is built, cash return becomes a priority, so quick-flipping is standard.

Investors with neither the mindset nor the capital for development can still invest like a developer by putting money behind publicly listed companies in this line of work. Firms related to development (engineering firms, for example) are another possibility.

The income investor
Real estate has always been an attractive asset for income-oriented investors. With the current low interest rate environment, that interest has only grown. More and more HNW investors I talk to are taking a look at apartments, office buildings, malls, and warehouses, where there’s potential for capital gains, but the primary goal is income.

Like the developer, the income investor takes a businesslike approach to real estate. But the business is more conservative, with less focus on vision and more focus on balance sheets, cash flow, and cap rate. These investors seem to be in it for the long haul, and many times, with the intention of handing down through multiple generations.

Investors of more modest means can easily take the same approach. There are several REITs that focus on apartments and long-term tenants, both in Canada and the U.S.

A diversified portfolio of them could make an intriguing income investment. Accredited investors can also consider investing via Limited Partnership structures.

The opportunist
Legendary value investor Benjamin Graham talked about putting his money into “cigar butts”: companies that had been beaten up and discarded but still have a “few good puffs” in them. That’s a good analogy to what many HNW investors are doing with real estate. The opportunist sees real estate as a contrarian play—potentially the greatest of the past 50 years—but not necessarily a long-term hold.

Since 2008, the prime target for this type of real estate investing has been U.S. housing. With prices down 50 per cent or more from their all-time-highs in sun belt states such as California, Arizona, and Florida, dozens of HNW investors I know have bought condos, houses, and also apartment buildings and commercial property. A strong Canadian dollar doesn’t hurt, either.

There is nothing to stop investors of more modest means of doing the same, either through direct purchase (condos in many Snowbird destinations can be had for $150,000 or less), or a U.S.-focused REIT.

The loaner
Some HNW investors have decided to invest in real estate not by owning, but by loaning. Instead of buying property, they’re funding mortgages, investing in private real estate financing pools, or by backing companies that do the same.

Such an approach has several advantages over owning. It’s a good way to diversify, for one. It’s also a good way to move up the capital structure: mortgage holders generally take precedent over equity holders if a project goes sour. And of course, mortgages and real estate debt can be good income generators, too.

There are several publicly traded securities that offer exposure to mortgages and other financing pools. Many Canadian mutual fund companies offer mortgage loan funds. They’re more expensive than publicly traded securities , but active management may arguably offer additional risk control. Limited Partnerships are also an option for Accredited Investors.

Or if you’d like to view this article on the website that it originated from, please go to http://www.theglobeandmail.com/globe-investor/investment-ideas/thane-stenner/how-the-rich-are-investing-in-real-estate-right-now/article2267937/

Often times it allows someone who saw the house with their agent to return with friends or family for a second look. Even though stats show that less than 5% of homes are sold through open houses, they are nonetheless a big part of the selling process. It’s very expected that neighbours and even friends may stop in, but the idea is to allow a stress-free time frame for open showings for serious buyers.

The etiquette of an open house is really just common sense – however you’d be surprised how many people stretch the rules and do things that I, as a seller, wouldn’t necessarily appreciate if it was my home that was open.

Realtors do their best to keep everything going smoothly, but there are times when things get hectic, to say the least.

Here are just a few things to think about next time you are venturing into an open house:

1. Take off your shoes. Tracking through dirt and mud and who knows what else just isn’t nice.
2. Sign in. Most Realtors will not barrage you with emails or phone calls to buy or sell just because you sign their open house forms, instead it’s a record for the sellers to see how many people were in their home. If you do want additional information on the house or others, there is usually a spot for that inquiry and of course any Realtor would be thrilled to help.
3. Don’t use the bathroom. Enough said.
4. Try not to spout very loud opinions on things you may not know anything about – such as “wow that paint colour is so bright they must be hiding huge problems in the wall.” How would you feel if someone said that to your home?
5. Don’t be afraid to ask questions to the Realtor – they have a duty to be honest and ethical with their answers so it’s a great time to chat about the house.

Thanks in advance from all those nervous sellers!

Great Information borrowed in entirety from:
http://realestate.yourmoney.ca/2011/09/etiquette-of-an-open-house.html

Feel free to leave your comments and opinions.
Or for fun, let me know.. What’s the WORST thing you’ve ever experienced or witnessed at an Open House?

It appears Townhouse sales decreased over 17% since July, and Apartment sales decreased a whopping 25.5% since July!

Mind you, Townhouses sales have increased over 13% since July of last year, and home sales have gone up over 69% since last year! That’s a stunning significance!

I can’t wait to see how the month of September did as compared to July. If you’re like me and forget to check information sites, I can email you stats that are relevant to your area on a monthly basis. If you would like me to go over some of the information, as it can be overwhelming, I would be happy to do so.

So if you’re thinking of buying or selling any sort of real estate in Chilliwack, Abbotsford, Langley, etc. (I can travel further upon request), please do not hesitate to call or email me. I have the Contact Me section on my website if that’s easier for yourself.

In June, the Fraser Valley Real Estate Board processed 1,588 property sales on its Multiple Listing Service (MLS®), while at the same time had 9,758 active listings available.

Sukh Sidhu, president of the Board, explains, “When supply and demand remain as consistent as they have since April, it indicates a stable market. However, it is important for both buyers and sellers to be aware that Fraser Valley’s market is highly localized. In general, 16 out of every 100 properties sold in June, but that’s referring to every property type in all six of our communities. Be sure to ask your REALTOR® for the percentage of properties selling specific to your home in your area.”

The Board received 2,762 new listings in June, a decrease of 10 per cent compared to May and adecrease of 12 per cent compared to the 3,153 new listings received in June 2010.

Sidhu adds, “Although the volume of new homes coming on stream saw a seasonal dip in June,selection remains very good in particular for Fraser Valley apartments. With interest rates remaining stable, there are some excellent opportunities for first-time buyers this summer.”

On May 2, 2011 Canadians head to the polls for the fifth federal election in 11 years. How important is this election to Fraser Valley REALTORS®, property buyers, sellers and investors?

The federal government’s jurisdiction is broad when it comes to housing and real estate issues and includes powers over Aboriginal land claims, Canada Mortgage and Housing Corporation (CMHC) mortgage insurance, the Do-Not-Call list, mortgage finance rules, income tax investment rules, the Harmonized Sales Tax, the Competition Act, the Income Tax Act, and the proceeds of crime (money laundering) legislation (FINTRAC).

Policy developed in Ottawa affects local property buying decisions. As part of the Canadian Real Estate Association’s Political Action Committee, FVREB representatives have met with area MPs in Ottawa and locally, to focus on two key issues. We’ve asked the federal government to:

1. Index the Home Buyers’ Plan withdrawal limit to keep pace with home price changes.
   The plan now allows a home buyer to withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSP to use as a down payment for a home. CREA lobbied for many years to have the amount raised from $20,000 per home buyer and $40,000 per couple. The plan needs to be indexed.
2. Allow investors in income properties to defer the capital gains tax and the recaptured capital cost allowance. Investors who sell one property and who reinvest the proceeds in another income property within one year should have access to these tax incentives, which will also go a long way towards stimulating much needed investment in rental properties.

Ridings in the FVREB area

There are 7 federal ridings in our communities:

• Abbotsford
• Pitt Meadows–Maple Ridge–Mission (shared with REBGV)
• Fleetwood–Port Kells
• Langley
• Newton–North Delta
• South Surrey–White Rock–Cloverdale
• Surrey North

Close races

Within the Board boundaries, there are two ridings worth watching in this election. Close races are expected in ridings where there is no incumbent and in ridings where the vote count was close in the last election.
They include:

• Newton–North Delta: In 2008, Liberal incumbent Sukh Dhaliwal was re-elected in a tight three way race, beating the Conservative candidate by 2,493 votes.
• Surrey North: Conservative Dona Cadman won this seat by only 1,000 votes in 2008. This year’s Liberal candidate, Dr. Shinder Purewal, once ran against Cadman’s late husband, Chuck who held the seat for three terms. Jasbir Sandhu, the New Democrat candidate, is touted as being a front runner. Expect a close race.

The results in BC are important because even a few seats changing parties could affect whether the government is a minority or a majority for any one party.

Election questions

What riding do I live in? Who’s running in my riding? Am I registered to vote? Where do I vote? What if I didn’t receive a voter card in the mail? To have these and other questions answered, visit www.elections.ca. Look for “Vote. Shape Your World” and click Go.

Which parties’ views are most like yours?

Participate in cbc.ca’s Vote Compass at www.cbc.ca/votecompass. This is a free survey developed by political scientists that asks you for your opinion on a number of political issues and then shows you how your views compare with the platforms put forward by each of the political parties.

How to get the most out of the Federal Election

Inform yourself at www.elections.ca or media websites like www.cbc.ca/canadavotes.

Also, FVREB’s Government Relations committee has been supporting local chambers of commerce all-candidates’ meetings. There’s one left in Abbotsford. It’s at 7 pm on Thursday, April 28 at the Garden Park Towers (#101, 2825 Clearbrook Road).

http://www.fvreb.bc.ca/newsreal/2011NR/2011articles/FedElection.html

A REALTOR®’s expertise and experience are invaluable and can guide you through the details of the complicated buying or selling process. His or her knowledge of the housing market can help you make the best possible choice. REALTORS® are extremely dedicated individuals whose professional obligation is to serve the best interests of their clients.

REALTORS® are uniquely qualified to serve your home ownership needs, and it takes a lot for these individuals to become real estate professionals.

Before receiving a real estate license in BC, an individual must complete the intensive Real Estate Trading Services Licensing Course delivered by the University of British Columbia on behalf of the Real Estate Council of BC. But that’s only the beginning. Upon completing the licensing course, registrants are required to be registered and successfully complete a five-day in-class course delivered by the BC Real Estate Association (BCREA). In addition, all registrants must continue to attend courses throughout their careers in order to maintain their license and professional designation.

In order to be called a “REALTOR®,” a licensed real estate professional must become a member of a local real estate board as well as the Canadian Real Estate Association (CREA) and BCREA. When you work with a REALTOR®, you can expect strict adherence to provincial law as well as to a national code of ethics, standards of business practice and local rules and regulations ensuring you’ll receive the highest level of service, honesty and integrity. In fact, REALTORS® are governed by the legal concept of “agency.” An agent is legally obligated to look after the best interests of the person he or she represents. The agent must be loyal to that person.

What a REALTOR® offers

Rigorous training and high standards are not the only things that make a REALTOR® so valuable — his or her expertise extends into every aspect of home ownership. REALTORS® know how best to sell or buy a home, and their intimate knowledge of the real estate market will ensure that you get the best price possible. They will gladly clarify any legal terminology or government regulations for you.

For sellers, REALTORS® develop a marketing plan that can include scheduling open houses, placing advertising if desired and listing your property. They can pre-screen buyers so that only those who are truly interested and qualified view your home.

When it comes time to negotiate a price, a REALTOR® can act as a mediator between you and the buyer. This will allow you to remain at “arm’s length” during the often stressful negotiation process. Assistance in evaluating financing options and mortgage rates is also yours for the asking. But a REALTOR® not only helps you to buy or sell a home. He or she can also provide you with a list of lenders, lawyers, mortgage brokers and other professionals whose expertise you may need to complete a real estate transaction. When you work with a REALTOR®, you’re working with a professional who has a strong commitment to quality education, ongoing training and top-notch customer service.

Your REALTOR® will work hard to determine exactly what you want in a home, and will go to extraordinary lengths to meet your needs. You can expect a high level of service and a strong sense of loyalty. In fact, a large proportion of home owners use the same REALTOR® for each new house they purchase because of the relationship that they have developed. Before you take that big step of buying or selling your home, enlist the services of a REALTOR®.

http://www.fvreb.bc.ca/newsreal/2011NR/2011articles/OREA-value.html

2. GST Rebate on New Homes
New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.
1.800.959.8287

3. BC New Housing Rebate (HST)
Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7%) of the 12% HST paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250.

4. BC New Rental Housing Rebate (HST)
Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit.

5. BC Property Transfer Tax (PTT) First Time Home Buyers’ Program
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000.

6. First-Time Home Buyers’ Tax Credit (HBTC)
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2010) x $5,000. For the 2010 tax year, the maximum credit is $750.

7. BC Home Owner Grant
Reduces school property taxes by up to $570 on properties with an assessed value up to $1,150,000. For 2011, the basic grant is reduced by $5 for each $1,000 of value over $1,150,000, and eliminated on homes assessed at $1,264,000. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled. This is reduced by $5 for each $1,000 of assessed value over $1,150,000 and eliminated on homes assessed at $1,319,000+.

8. BC Property Tax Deferment Programs
Property Tax Deferment Program for Seniors: Qualifying home owners aged 55+ may be eligible to defer property taxes.

Financial Hardship Property Tax Deferment Program: Qualifying low-income home owners may be eligible to defer property taxes.

Property Tax Deferment Program for Families with Children: Qualifying low-income home owners who financially support children under age 18 may be eligible to defer property taxes.

9. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants
This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and owners creating secondary and garden suites.

10. CMHC Mortgage Loan Insurance Premium Refund
Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient mortgage or make energy saving renovations.

11. Energy Saving Mortgages
Financial institutions offer a range of mortgages to home buyers and owners who make their homes more energy efficient. For example, home owners who have a home energy audit within 90 days of receiving an RBC Energy Saver Mortgage, may qualify for a rebate of $300 to their RBC account.

12. Low interest renovation loans
Financial institutions offer ‘green’ loans for home owners making energy efficient upgrades. Vancity’s Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for ‘green’ renovations. RBC’s Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fixed rate installment loan over $5,000. For information visit your financial institution.

13. LiveSmart BC: Efficiency Incentive Program
Home owners improving the energy efficiency of their homes may qualify for cash incentives through this provincial program provided in partnership with FortisBC and BC Hydro. Rebates are for energy efficient products which replace gas and oil furnaces, pumps, water heaters, wood stoves, insulation, windows, doors, skylights and more. The LiveSmart BC program also covers $150 of the cost of a home energy assessment, directly to the service provider.

14. BC Residential Energy Credit
Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST.

15. BC Hydro Appliance Rebates
Mail-in rebates for purchasers of ENERGY STAR® clothes washers, refrigerators, dishwashers, or freezers.

16. BC Hydro Fridge Buy-Back Program
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in working condition.

17. BC Hydro Windows Rebate Program
Pay no HST when you buy ENERGY STAR® high-performance windows and doors. Call 604.759.2759 for a free in-home estimate.

18. BC Hydro Mail-in Rebates/Savings Coupons
To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR® cordless phone. Check for new offers and for deadlines.

19. FortisBC Rebate Programs
A range of rebates for home owners include a $50 rebate for upgrading a hot water tank, $150 rebate on an EnerChoice fireplace and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR® heating system (each good to December 31, 2011).

20. FortisBC Efficient Boiler program
For commercial buildings, provides a cash rebate of up to 75% of the purchase price of an energy efficient boiler, for new construction or retrofits.

21. Vancity Green Building Grant
In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for projects which focus on building renovations/retrofits, regulatory changes that advance green building development, and education to increase the use of practical green building strategies.

22. Local government rain barrel programs
Many local municipalities sell rain barrels and downspout kits to help you collect water for watering your garden or washing your vehicle(s). Contact your local municipality’s Engineering department for information.

23. Local government water conservation incentives
Your municipality may provide grants and incentives to residents to help save water. For example, the City of Abbotsford, District of Mission and Township of Langley offer rebates for low-flow toilets. Some municipalities sell indoor and outdoor water saving kits. For more information, contact the municipal Engineering departments.

24. Local government water meter programs
Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. For example, Delta and Surrey have programs and other municipalities may soon follow. Visit your municipality’s website and search “water meter” to find out if there is a program.

Source: Adapted from the Real Estate Board of Greater Vancouver

Information replicated from Fraser Valley Real Estate Board Newsletter: April 6, 2011  http://www.fvreb.bc.ca/newsreal/2011NR/2011articles/24grantsandrebates.html

The Fraser Valley Real Estate Board processed 1,818 property sales in March, an increase of 16 per cent compared to 1,565 sold during March of last year, and an increase of 42 per cent compared to February’s 1,279 sales. In March of 2006, there were 2,072 sales.

Sukh Sidhu, Board president, explains, “We are seeing strong demand in Fraser Valley but not necessarily for every product type in every community, underlining the importance for consumers to ask their REALTOR® for a detailed, local market analysis.“For example, sales of single family detached homes in White Rock/South Surrey increased by over 150 per cent in March compared to last year, however in Abbotsford they were down by almost 7 per cent. The property type that saw the largest increase in sales in Abbotsford during the month of March was condominiums.”

Sidhu adds that in addition to sales volumes, the number of new properties being listed for sale also increased by 11 per cent, going from 3,038 new listings in February to 3,376 in March. “Giving buyers more choice during one of the most popular times of the year to house hunt.” March finished with 6 per cent more active listings on the MLS® than it had in February, 9,228 compared to 8,680, however still 6 per cent fewer compared to the 9,828 listings that were active during March of 2010.

Regarding prices, in March, the benchmark price for Fraser Valley detached homes was $519,628, an increase of 0.9 per cent from the March 2010 price of $514,787.

The benchmark price of Fraser Valley townhouses in March remained on par year-over-year going from $326,307 in 2010 to $327,328 in 2011.

The benchmark price of apartments was $249,463 in March, a 1.1 per cent increase compared to $246,673 in March 2010.