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 >

SURREY, BC – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) processed 799 sales in January, a decrease of 4 per cent compared to the 834 sales in January last year and 10 per cent fewer than were processed in December. In the last decade, January 2012 was second only to 2009 for lowest volume.On the flip side, compared to other starts during the last 10 years, the Board received one of its highest influxes of new listings for January – 2,753 – 5 per cent more than January 2011 and 143 per cent more than December the month before. The increase in new inventory raised the volume of active properties in Fraser Valley to 8,320 by the end of January.Sukh Sidhu is the Board’s president. “For spring house hunters this is great news. For buying power you can’t beat the combination of greater selection, the continuation of ... MORE >

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 >

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 >

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 >

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 >

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 >

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 >

In Alberta, the price of oil is the economic sign of the times. In Saskatchewan, it’s a mix of key agricultural and mining commodity prices. In Ontario, manufacturing and financial services dominate. These indicators provide a snapshot of their economies and signposts of the health of what is driving provincial economies. A recent report by the Independent Contractors and Businesses Association (ICBA) of B.C. shows something different drives B.C. – immigration. Though forestry, mining, and tourism remain important, it’s the in-flow of individuals and families from the re... MORE >

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 >

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 >

One of the main responsibilities of the Bank of Canada is to ensure a low and stable rate of inflation. This objective has been put to the test by the federal government's economic stimulus program and strong consumer spending, largely financed by household debt. The rising value of real estate has created a "wealth effect", inciting consumers, who feel richer than they are, to take on debt to buy the goods and services they want. With debt now representing 148 per cent of personal disposable income, Bank of Canada governor Mark Carney and federal Finance Minister Jim F... MORE >