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24 October, 2016

Source: REIN Canada

The Real Estate Investment Network’s (REIN™) release of Top British Columbia Investment Towns analyzes the current and future prospects for real estate investment opportunities in BC. The 120 page report states that recent market correction provides buying opportunities for home owners and investors; however, only in select regions of the province. It identifies which areas will outperform in the coming decade and finds that City of Surrey is the top area in British Columbia in which... MORE >

Fraser Valley Home Sales in October Consistent With 10-Year Avg

Source: FVREB
(Surrey, BC) – An increase in sales and a decrease in new listings last month resulted in Fraser Valley’s real estate market returning to typical activity levels for October – on par with that month’s 10-year average.   The Fraser Valley Real Estate Board posted 1,249 sales on its Multiple Listing Service (MLS®) in October, an increase of 19 per cent compared to the 1,053 sales processed during October 2012.  At the same time, the Board received 2,336 new listings, a decrease of 7 per cent compared to the 2,522 new listings received during the same time period last year.    Ron Todson, President of the Fraser Valley Real Estate Board, says, “We’ve had a great summer and good early fall, but it’s important to remind everyone of the context. The last four months of 2012 were amongst the slowest for our real estate market in ... MORE >

Surrey votes to allow secondary suites city-wide

Source: Vancouver Sun
After decades of debate, Surrey has decided to permit homeowners to have one secondary suite in all single-family homes in the city, following an Ipsos Reid telephone poll in which 63 per cent of those surveyed supported the idea.The move, which received unanimous approval at city council Monday night, brings Surrey’s secondary suite policy into line with that of most municipalities in Metro Vancouver. Delta is expected to go ahead with a similar policy.Up until now, Surrey has allowed secondary suites only in predetermined zones in the city, mostly in Newton. Yet the city has its share of illegal suites, which are estimated to number as high as 19,000. Surrey Coun. Judy Villeneuve, who chairs the city’s social planning committee, said the illegal suites have prov... MORE >

City to match retail funds

Source: Peace Arch News
In an effort to establish a long-term vision for White Rock’s commercial areas, the city plans to pitch in up to $20,000 for a business needs and priorities assessment.Council approved the funding – which will come out of the economic reserve and be matched by the White Rock Business Improvement Association – at its Monday meeting, subject to the approval of a grant from the BC Real Estate Foundation.According to a report, staff based the funding formula off a 50 per cent contribution from the real estate foundation, with the total cost of the project being $80,000.The report cited key components that should be included in the study, such as targeting the upper and lower town centre and East and West Beach as four distinct commercial areas; identifying opportunities and limitations f... MORE >

BIA gets down to business at AGM

Source: The Peace Arch News
It started in chaos and ended in a consensus. An annual general meeting of the White Rock Business Improvement Association Monday evening at the Elks Hall began as a stormy shouting match but emerged as an orderly proceeding. This was largely due to the intervention of professional “registered parliamentarian” – or parliamentary expert – John Noonan, employed by the BIA to run the meeting according to Roberts’ Rules of Order, per the Society Act. BIA executive director Russ Davies said Noonan’s hiring had been within the organization’s approved budget for its AGM and renewal process, though he wouldn’t reveal the exact cost. ... MORE >

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How to Inspect Windows, Doors to Stop Air and Water Leaks

Source: House Logic
Take a look at windows, doors and skylights to stop air leaks, foil water drips, and detect the gaps and rot that let the outside in and the inside out. You can perform a quick check with a home air pressure test, or do a detailed inspection. Luckily, these inspections are easy to do. Here’s how to examine the barriers that should stand between you and the elements. MORE >
B.C. housing rally expected to continue through 2014

Source: Globe & Mail
A rally in British Columbia’s housing market is expected to extend through 2014 as the provincial economy gathers steam.Sales on the Multiple Listing Service are on pace to reach 71,700 units in 2013, up 6 per cent from last year’s sluggish showing, says the B.C. Real Estate Association.With consumers concerned about the prospect of higher interest rates over the next year, many British Columbians are locking in mortgage preapprovals and shopping for homes, said Cameron Muir, the association’s chief economist. MORE >

Stable outlook for Canada’s housing market in 2012

Source: CRE Magazine
House prices and sales will remain stable through 2012, according to the latest forecast by the Canada Mortgage and Housing Corporation (CMHC). In its fourth quarter outlook, CMHC predicts the average price will increase 1.2% from $363,900 in 2011 to $368,200 in 2012. Sales will rise from 450,100 units in 2011 to 458,500 in 2012, up 1.9%. Housing starts, however, will drop 2.2% from 191,000 in 2011 to 186,750 in 2012, according to the CMHC outlook.Global economic concerns have resulted in growing fears about how that might impact Canada’s market, ... MORE >

CREA hikes home price forecast for remainder of 2011

Source: Globe and Mail
The Canadian Real Estate Association has gone back to the drawing board again, saying the number of multimillion-dollar Vancouver deals have “surged unexpectedly” as it raised its forecast for the year. The national trade association said the average national resale price will gain four per cent by the end of the year because of high prices in Vancouver. In its last forecast – made in early February – CREA said the price would advance 1.3 per cent. MORE >
World economy to grow 3.1% in 2014

Source: Market Watch
China's economy will likely grow at its slowest pace in years in 2014, as it continues to transition to a more balanced growth model, a leading forecaster said.Despite the deceleration in China, the world economy will likely still rebound modestly next year, mainly due to the recovery in mature economies like Europe and the U.S., according to the Conference Board.In its Global Economic Outlook, released Tuesday, the Conference Board projects that China's growth rate will slow to 7% in 2014, compared with 7.5% in 2013. That would mark China's slowest rate of economic expansion in more than a de... MORE >

Canada’s economy out performs peers, says IMF

Source: The Toronto Star
Canada is outperforming its global counterparts in steering its economy and managing potential landmines, says the International Monetary Fund. “Thanks to a decisive policy response, a resilient financial sector, and high commodity prices MORE >

Canada's economy creating more full-time, and better paying jobs, says report

Source: CIBC
The Canadian economy is not only creating more jobs, but it is also creating better jobs, according to report from CIBC. The bank's employment quality index found that the quality of jobs being created in Canada has improved over the last 12 months, and the measure is now back to pre-recession levels. Canada was one of the first among advanced countries to come out of the recession MORE >