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Survey shows consumer sentiment divided

 

Metro Vancouver residents are split this year over whether spring is a good time to buy real estate, according to a new consumer confidence survey.

“What’s really interesting is how definitive it’s become,” said Ian Martin, general manager of REW.ca, the online real estate search site that commissioned the survey. “It’s polarized. Split right down the middle.”

Traditionally, spring is the busiest time for buying and selling residential properties, but this year’s record-low interest rates — the Bank of Montreal has been offering 2.99 per cent — combined with record-high prices is splitting consumer sentiment.

Forty six per cent of metro Vancouver and Fraser Valley residents surveyed think it’s a good time to buy over the next three months and 42 per cent disagree, Martin said, citing a REW.ca commissioned Mustel Group telephone survey of 278 metro Vancouver and Fraser Valley adults...

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VANCOUVER, BRITISH COLUMBIA, Mar 28, 2012 (MARKETWIRE via COMTEX) -- The REW.ca Real Estate Consumer Confidence Survey reveals a close split on whether this spring is a good time to buy in Vancouver Lower Mainland. According to the survey, 46% of Vancouver Lower Mainland residents think it's a good time to buy in the next three months, while a close 42% disagree.

Traditionally, spring is the busiest season for buying and selling houses, but this year, record-low interest rates line up against record-high prices, leaving consumers wondering where the market will go. Of the 46% who believe it's a good time to buy, 28% gave low interest rates as the main reason, with 17% saying it's a buyer's market with a lot of inventory available. Half of those who don't think it's a good time to buy cite high prices (49%), and 17% of them see a housing bubble and expect a market correction with falling prices.

Meanwhile, a 56% majority of respondents believe now is a good time to sell a house or condo in...

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Learn how to resolve conflict with your partner before sharing a home

There is no denying that Vancouver is one of the most expensive cities to live in. When I was looking for a new apartment, I realized that finding a place to live is just as hard as finding a good relationship. They are few and far between and if you want something nice and reliable it’s going to cost you.

My friend Kevin had just recently ended things with his girlfriend of four years and was beginning to date. He would like to own a home but the market makes it difficult to take on a mortgage as a single person. After two months of dating, Kevin found a partner and their relationship moved quickly. In just one month of starting their journey as a couple, they decided to move in together to save on the cost of living separately. Since things were going so well Kevin decided there was no harm in speeding up the inevitable. But I departed my meeting with Kevin with more questions than answers and decided to pay special...

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I have listed a new property at 202 4001 MT SEYMOUR PKY in North Vancouver.

THE MAPLES - Often sought, rarely available end unit-3 level townhouse with 3 bedrooms up, finally awaits in this tranquill yet conveniently located, well maintained complex. Many updates including Hardwood floors on main & warm, comfortable cork flooring on upper & lower level. Large dining & living rooms with featured woodburning fireplace & glass sliders to private 388 sq ft fenced patio. Renovated kitchen with newer fappliances, breakfast bar & walk out to the patio. Both baths (main floor powder room and upstairs main bath) have been renovated. Newer windows throughout & renovated basement makes for a perfect family "hang-out", great office or 4th bedroom. Complex is set-back from Mt Seymour & surrounded by a golf course. Close to shopping, skiing, beaches, schools & Deep Cove! Ideal for kids & pets.

Other Features:

Salt water outdoor pool, sauna & steamroom...

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Please visit our Open House at 202 4001 MT SEYMOUR PKY in North Vancouver.
OPEN HOUSE: Sat. March 31st & Sun. April 1st, 2-4pm

THE MAPLES - Often sought, rarely available end unit-3 level townhouse with 3 bedrooms up, finally awaits in this tranquill yet conveniently located, well maintained complex. Many updates including Hardwood floors on main & warm, comfortable cork flooring on upper & lower level. Large dining & living rooms with featured woodburning fireplace & glass sliders to private 388 sq ft fenced patio. Renovated kitchen with newer fappliances, breakfast bar & walk out to the patio. Both baths (main floor powder room and upstairs main bath) have been renovated. Newer windows throughout & renovated basement makes for a perfect family "hang-out", great office or 4th bedroom. Complex is set-back from Mt Seymour & surrounded by a golf course. Close to shopping, skiing, beaches, schools & Deep Cove! Ideal for kids & pets.

...
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OTTAWA — The Canadian housing market is off to a strong start this year, with gains in sales and prices in most major markets, according to a report released Thursday from real-estate company Re/Max.

 

It said sales for January and February were up in 12 of the 15 markets it assessed compared to a year earlier, most by 10 per cent or more. It credited low mortgage rates, strong consumer confidence and even some mild weather, which it said helped usher in an early spring buying season.

 

"Given the current economic climate, the strength of the country's housing market clearly reflects the value Canadians place on home ownership," Michael Polzler, an executive vice-president with Re/Max, said in a statement.

 

"One driving factor has been the overall performance of the market over the past decade. Existing homeowners have realized substantial equity gains, especially in recent years, and many are taking advantage of the combination of historically low interest rates and...

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Please visit our Open House at 219 580 RAVENWOODS DR in North Vancouver.
OPEN HOUSE: Sat March 24th, 2-4pm
Westcoast living at it's best in this sunny, 726 sqft, one bedroom + den suite with 9' ceilings overlooking tranquil lagoon and fountains. Gourmet kitchen boasts stainless steel appliances, granite countertops and white cabinetry. Versatile den can accommodate guest (or baby) or perfect working space. Tastefully decorated with laminate flooring, designer paint, gas fireplace. Great layout and highend finishes makes this a home to be proud of. Southfacing, covered balcony with peaceful outlook. A Whistler-like ambiance set on the North Shore near Deep Cove, close to parks, woodland trails, shopping, cafes, and Cate's Park. 5 mins. to hwy and bridges for easy downtown comute. Amenities include: clubhouse with lounge and pool table, sauna, fully appointed gym and theatre room  - all this and NO PROPERTY TRANSFER TAX!!!

First Open Sunday February 19th 2-4pm.
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Please visit our Open House at 814 175 1ST ST W in North Vancouver.
OPEN HOUSE: Sat March 24th, 2-4pm
Great Investment opportunity in the popular "Time" building in vibrant Lower Lonsdale. Sunny SE facing balcony with water & city view. Unique studio with separate private sleeping area with closet. Gas fireplace, insuite laundry, huge bathroom, open concept kitchen with gas stove & built-in microwave. Concierge service. 1 parking & slorage. Pels & rentals allowed. Balance of 2/5/10 warranty. 5 min. stroll to Lonsdale Quay market & seabus service to downtown. John Braithwaite Community Centre, chic restaurants, coffee shops and boutique shopping all just steps away. This one is all about the "lifestyle". (Previously rented for $1,750 per month furnished). First Open Saturday February 4th,  2 - 4pm.
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Canada housing 10-15 pct over-valued

 

OTTAWA - Canadian housing is 10 to 15 percent over-valued, Canada’s second largest bank warned, as it called for more action to constrain lending growth.

Toronto-Dominion Bank chief economist Craig Alexander said last week in an analysis that if the overvaluation were unwound rapidly, the market correction would be three times the magnitude of the housing market correction of the early 1990s.

Alexander said it is more likely that there will be a gradual decline in sales and prices over the next several years unless there is a sharp rise in joblessness or interest rates. He warned against complacency, however.

“We need to acknowledge that a significant imbalance has developed and it poses a clear and present danger to Canada’s medium-term economic outlook,” he wrote. “It also suggests that further actions to constrain lending growth may be prudent.”

At greatest risk is Vancouver, a magnet for foreign buyers, along...

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As of Feb. 29, 2012, there were 6,000-plus condos for sale through the Vancouver Real Estate Board - up 15 per cent compared to the previous year.

At the same time, sales of used condos were down by 18 per cent. The average price of $457,000 was slightly higher than last year.

Add to this the fact that - according to MPC Intelligence - there are some 8,000 pre-sale condos being launched in the first six months of this year. Buyers should draw up a checklist, do some comparisons and keep in mind the following tips:

. Buy a good location in the building. Choose your suite wisely - not over a garage door or entrance. Not near a garbage can. Buy corner units, particularly in a townhouse complex. Buy the top floor in three-storey building. Buy balconies. Buy view.

. Buy a building where you can rent out the suite. In B.C., councils can vote tenants out. In many parts of Canada, councils have that power too. What about pets, age, children restriction?

. Read the minutes of the strata for the last...

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