The Axfords
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Here's a link to the info on one of the events Realtors do to support the community. There's also a short video. If anyone is interested we would be happy to accept donations and pass them along to help people much less fortunate than ourselves.
Our address is 13-201 Morrissey Road, Port Moody (in Suterbrook Village).
The ancient philosophy of feng shui, which translates as 'the wind and the water', is the Chinese art of correct placement. In real estate, those who prescribe to feng shui believe that home sales can be better achieved by arranging furniture and décor to establish harmony and energy. When there’s not enough qi (pronounced chee), it means the whole land energy is low or depressed and that influences potential buyers
Feng shui begins with the homeseller, who must be at peace with the decision to place the home on the market. Likewise, feng shui is important for many prospective buyers, who seek a home with harmony and balance.
In feng shui, energy enters the house through the front door so it’s important that the entryway stands out with contrasting paint. Add decorative plants and a wind chime, but make sure this space is free from clutter. The perfect entry is one that is clear of obstruction. This includes trimming back all hedges and making sure that the path to your door is clear, open and well defined.
Bedrooms are considered sanctuaries for privacy and peace. A suggestion is to place objects in pairs throughout the master bedroom as it’s thought to increase marital harmony and balance. You also want to place the bed in the position that has the most commanding view of the doorway, which is considered the gateway of the qi. We are in a vulnerable state while sleeping and it is important that this area affords our being safe and supported.
In the kitchen, where energy is imparted in food, the chef’s station should always face the door for a clear view of those who enter.
Throughout the home, remove photos and other personal items so potential buyers can see the property as a clean, fresh start. And since earthy, pleasant aromas enhance feng shui, add cinnamon or pine scents to the home before potential homebuyers’ arrival.
Feng shui is all about drawing harmony and good health into your life and surroundings. With these simple steps you can bring your home into better balance and broader appeal.
A stressful part of putting your home on the market is trying to figure out what to fix and upgrade to get the very best price. An experienced agent will recommend projects to consider and ones to avoid. After all, just because you put money into a renovation project doesn’t mean you will recoup the money in a sale.
In many cases, smaller-scale renovation projects recoup more of their initial cost than larger, pricier ones. For example, a minor $20,000 kitchen upgrade and a more expensive $60,000 upgrade will give about the same percentage returns of value on resale.
Surprisingly, exterior upgrades can recoup more of their costs than interior renovations -- a trend that’s been building for the past five years. A new entry door (and garage doors if necessary) will not only add value but it will improve the Buyers first impressions. Likewise, sliding doors and windows offer a good return on investment.
Interior improvements retaining the most value include remodeling a little used space like an attic or basement. And of course, painting and installing new flooring where necessary not only adds value but makes a home more saleable.
A homeowners’ needs and budgets will dictate their choice of home-improvement projects.
BC Real Estate Association ECONOMICS NOW
Manufacturing Shipments/US Retail Sales - November 15, 2011
Canadian manufacturing sales rose 2.6 per cent in September, the third consecutive monthly increase. Higher sales were reported in 10 of 21 manufacturing sectors representing 60.5 per cent of total manufacturing sales. A higher than expected September trade surplus paired with strong third quarter manufacturing shipments will give third quarter Canadian GDP growth a boost, possibly to as high as 3 per cent. Manufacturing sales in British Columbia increased marginally by 0.1 per cent in September.
Positive news out of the US showed that US consumers were off to a strong start in the fourth quarter as October retail sales rose 0.5 per cent, beating consensus forecasts of 0.3 per cent. A strong sign that, while growing slowly, the US is not (yet) slipping into a recession.
An attractive home will attract a Buyer - here are some easy and inexpensive ways to spiff up your home.
1 Clean lampshades. Disconnect the lamp and remove the shade. If your shades are simple -- no decorations -- just use a damp cloth to gently wipe the inside and outside. If there are embellishments that need extra attention, use an old toothbrush to get them clean. Wipe down the lamp base and give the cord a once-over, too.
2 Wash window coverings. For fabric panels: Some can go into the washer; others (like silks and fine fabrics) can be gently vacuumed, brought to the dry cleaner or washed by hand in the sink or tub. For mini-blinds: Cover your hands in a pair of cotton socks. Dip them in warm soapy water and wipe each of the slats clean.
7 Clean drains. Nothing says summer like a fresh-smelling home, and stale drains can sometimes give off a subtle odour. In the kitchen and bathroom drains, pour about half a box of baking soda down the drain, followed by half a cup of white vinegar. Cover the drain with a small plate or bowl for a few minutes. Complete the process by running the cold-water tap for a few minutes.
8 Disinfect all your garbage containers and recycling bins. Take them outside and douse them with cleaner. Grab a tall, cool drink and call your best friend. When you get off the phone, attack garbage cans with the garden hose. Leave them upside down on the deck and put your feet up until they drip-dry.
9 Clean out the kitty litter box. Those plastic buckets, domes, houses and other containers are indestructible, it's true -- but that doesn't mean they don't get filthy. Take the litter box out and wash it down. Soap and water will work wonders.
Home prices and sales may be flat, but the rental industry is doing well. The percentage of renters is on the rise, the number of households is increasing, and more people are downsizing, all of which point in a single direction: rents are on the rise.
For the first time in 40 years, demand has been shifting toward smaller dwellings, coinciding with a shift in demand toward urban centers. Baby boomers are considering downsizing, moving toward areas with more amenities, and members of Generation Y are just hitting their single, urban-living years.
Only the relatively small Generation X is in the buy-a-large-house-in-suburbs category, which means the demand for the traditional single-family home with a white picket fence is weaker.
Rental apartment vacancies are forecast to edge slightly lower this year. An improving job market and an expected net inflow of more than 40,000 migrants each year will support demand for rental accommodation. Another factor contributing to strong rental demand is that the difference between monthly rental costs and the cost of carrying a mortgage on an apartment condominium is growing. Condominium prices in many areas have rebounded from their previous lows, making rental accommodation a more attractive alternative for those looking to minimize their monthly outlay. Strong demand for rental accommodation will keep average apartment rents increasing by four per cent this year and next.
Multiple unit construction starts are forecast to increase about 24% this year which will bring the multi family starts near the 10 year average level. Larger multiple unit projects, which saw the sharpest decline in 2009, will start to return to the market. These projects will be flexible and started in phases.
Each of these indicators are entire topics in themselves, but the bottom line is that the rental industry is on the rise, and some real estate experts believe that its growth will accelerate rapidly over the next three to five years.
Not too high and not too low. Price it right and it will go!
Determining the price of your home is both a science and an art and we think we do it well.
Here are a few things we've learned over the years.
Factors that DO affect a property's value:
In October the sales to listing ratio shifted slightly upward to 15% placing us in the bottom end of a balanced market (rather than a Buyers market). The number of units sold (2,317) is almost the same as October 2010 and the second lowest selling October in the last 10 years.
The number of new listings (4,374) is about the same as the 10 year average and the total number of properties currently listed in Greater Vancouver is 15,377. October is the first month in 2011 that the number of listings decreased from the previous month. Although property values are up from the beginning of the year, they have edged downward from their peak in June.
Price Stability + a Healthy Inventory = More Selection and More Time for Buyers to make a decision.
Market conditions vary from depending on the area and property type.
Please contact us with any questions.
According to a panel of speakers at a recent Board of Trade event, there is not a real estate bubble in Vancouver but rather the lack of clear transitional rules leading up to the return of the provincial sales tax are having a negative effect on the our industry.
That was the message delivered by the panel of three real estate industry experts, including the Board’ President-Elect Eugen Klein, to a packed house at the Board of Trade’s Bubble Trouble event on October 21. Other panelists included Ward McAllister, president of Ledingham McAllister Properties, and Richard Wozny, of Site Economics Ltd. The panel was moderated by David Podmore, CEO of Concert Properties Ltd.
Each of the speakers presented information that helped to set the overall picture of what they consider to be a solid overall market that is not in the midst of a bubble. But they directed their strongest comments towards the impact that the lack of transitional rules is having on the market right now.
“Potential buyers, especially the under-25 group, are sitting on the sidelines,” said Klein. “It’s also affecting home renovation projects with HST on them because consumers don’t know what to do.”
McAllister was the most vocal in his criticisms, noting that he and his company have been “literally begging” the provincial government for transitional rules since the results of the referendum to repeal the HST were announced.
“What is amazing to me is that it took the government three days to bring this new tax in and now they are telling us it is going to take up to 18 months to unravel,” said McAllister. “This is really hurting us in the new home business because of the uncertainty.”
Both Klein and McAllister noted that they are seeing developers taking on a portion, or even all, of the HST on their product to try and remove that uncertainty for potential buyers.
Other information provided by the speakers suggested that the Metro Vancouver real estate market is healthy and stable.
Wozny forecasted that low interest rates will hold steady into the foreseeable future, which will translate into continuing sales, and McAllister highlighted immigration data that shows that approximately 52,700 immigrants will move to British Columbia in 2011. Of that total, some 42,000 will move into the Metro Vancouver area, meaning that the need for new housing will remain strong.
Klein pointed to steady residential sales driven by high-end property demand in Richmond, West Vancouver and the Westside of Vancouver. He also updated major commercial projects that will add approximately five million square feet of retail space and 1.5 million square feet of office space to Metro Vancouver by 2015.
“Putting the residential and commercial real estate sectors in perspective, the Lower Mainland remains a very desirable place to live and work,” said Klein
As was universally anticipated, the Bank of Canada opted to hold its target overnight rate at 1 per cent this morning. Ongoing uncertainty in the Euro-zone continues to weigh heavily on the Bank's outlook. In its statement accompanying the interest rate decision, it was noted that the bank is now projecting a contained Euro-crisis, but also a brief recession in the Euro-area due to ongoing deleveraging and fiscal austerity. The Bank also expects continued weakness, but no recession, in the United States through the first half of 2012 before a resumption of stronger growth. Given various challenges in the global economy, the Bank of Canada trimmed its outlook for Canadian economic growth to 2.1 per cent in 2011, 1.9 per cent in 2012 and 2.9 per cent in 2013 which is in line with our own forecast. On inflation, the Bank now expects slack in the economy to persist longer than originally forecast, leading to a closing of the output gap at the end of 2013. This implies softer than expected inflation in coming quarters, with consumer price growth moderating before returning to the Bank's 2 per cent target by the end of 2013.
Overall, this morning's statement shows a very cautious Bank of Canada that is unlikely to make any significant movements on interest rates over the next two to three quarters. Further monetary tightening will be highly contingent on a brighter growth outlook in the United States and a credible solution to the Euro sovereign debt crisis. Therefore we expect the Bank of Canada to remain on the sidelines through the end of 2011 and the first half of 2012.
Copyright British Columbia Real Estate Association. Reprinted with permission. BCREA makes no guarantees as to the accuracy or completeness of this information.
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