Canadian Real Estate Sets Another Record

Real Estate in Canada has set new levels for sales ina year by sales volume and dollar amount.

Canadian real-estate markets clinch early record

Derek Abma, CanWest News Service Published: Monday, December 17, 2007
OTTAWA -- With one month's activity still unaccounted for, the Canadian Real Estate Association said Monday that listed residential real-estate transactions in most major markets are already at record levels.

Data from the country's 25 biggest markets show 345,577 sales of existing homes in November through the Multiple Listing Service (MLS), which is 2.7% ahead of the previous record of 336,646 sales in 2005.

There was a seasonally adjusted level of 29,992 sales last month, up 3.2% from October. This was driven by increased activity in Vancouver, Toronto, Edmonton, Calgary and Saskatoon, CREA said. On an unadjusted basis, November sales were up 7.6% from a year earlier.

A monthly record for sales was reached in Newfoundland and Labrador, the second-highest number of monthly sales was recorded in Saskatoon and Regina, and Vancouver and Toronto both had their third-most sales ever in November.

"Sales activity continues to run strong, even if it is off its peak set earlier this year in nearly all major markets," CREA chief economist Gregory Klump said in a statement. "Demand remains strong due to continuing job and income growth, and upbeat consumer confidence. That is helping retain a seller's market in most major markets."

The average sale price was $332,807 last month, up 11.6% from a year earlier. That marked the seventh-straight month that prices were up more than 10%. Average-price records were set in Montreal, Quebec City, Victoria and Kitchener-Waterloo, Ont.

BMO Capital Markets Economics said these numbers "show that resale activity barely blinked in the face of the severe credit squalls in the fall." Financial Post Article.

Go Canada.

A Nation Wide FSBO Company Is Expanding Efforts In Western Canada

A nation wide FSBO company is expanding efforts in Western Canada, at twice the price of Snap Up Real Estate. Canadian real estate is currently home to many 'for sale by owner' companies, DuProprio is one of the largest.

DuProprio has representatives in the Maritimes, Manitoba and B.C., but is waiting before jumping into Alberta, where two competitors are already active. Online services WeList.com and comfree.com are active in several Canadian provinces. For sellers, the website works like this: they pay a flat fee up front that varies according to location and type of property. The average fee is $400. (This will rise to $500 next year.) That fee buys sellers a website listing of six months to one year, depending on the type of property, and photos taken by a professional.Sellers get a customized poster for their lawn and online tools to help them write a description, prepare their home for sale and negotiate. A DuProprio sales representative visits about 90 per cent of clients to help set up a listing. Bouchard and his team talk to clients and the public through their blog. Article.

The expansion of 'For Sale By Owner' real estate transactions is growing, which is good for economic diversity.

By All Accounts Real Estate In Canada Will Not Follow The Dismal Path Of US Real Estate

By all accounts real estate in Canada will not follow the dismal path of US Real Estate. Financial analysts at TD have projected healthy growth in Canadian real estate for the next 25 years. As well the same firm reports Canada in unlikely to have mortgage trouble like the US.

Zillow.com, a huge, but newer, US real estate website has inked deals with several newspapers on advertising ventures. Full article.

Snap Up Real Estate Has A New Premium Listing In Nova Scotia

Snap Up Real Estate has a new premium listing in Nova Scotia. Real Estate in Nova Scotia is some of the most affordable in Canada, and this property is no different. Nova Scotia is one of the oldest settled areas of Canada, communities are well established and locals are renowned for their friendliness. Check out the full property details --> Nine Mile River Real Estate For Sale.

Real Estate In Canada Is Slowing Down, But We Will Not See The Crash Some Regional Markets In The US Experienced

Real estate in Canada is slowing down, but we will not see the crash some regional markets in the US experienced.

Industry insiders are reporting that Canadian real estate will not be adversely affected by the high dollar or the poor US real estate market. Also check the Canadian market update by CNW Group News.

Condo high rises are still a big hit with Vancouver real estate investors. A recent high rise in Surrey sold out in 30 hours, setting a new record.

Condo buyers have set a new speed record in real estate sales in the Lower Mainland by snapping up all 901 units in a Surrey high-rise development in just 30 hours.

A record 545 units in the Sky Towers development were sold last Saturday, beating the previous one-day sale record of 536 sold at the Woodward's development in Vancouver's Downtown Eastside in April, 2006.

The final 356 condos sold on Sunday for prices starting at $179,900, half the cost of similar units in Vancouver, with total sales for the weekend reaching $280-million.

Sky Towers, which includes two high-rises of 36- and 40-storeys, will be the tallest of their type between Vancouver and Calgary. The project is being built by Korean developer Hee Yong Yang and is his second complex in the area. Mr. Yang, the founder of a 2,000-outlet fried-chicken franchise in South Korea, moved to Vancouver with his family in 2002.

Globe and mail has the story.

The Victoria, BC Real Estate Market Has Been Compared To Calgary's For It's Upward Trends

It seems as though Real Estate in Canada has not been changed by the slowdown in the US housing market, or the rise in the CDN dollar. The Victoria, BC real estate market has been compared to Calgary's for it's upward trends. Article.

People are willing to pay extra for 'green' homes. Good on you real estate buyers, but is it really greener? Article.

Pro athletes have tonnes of money, so real estate investing is easy for them right. Article.

The change in US real estate trends has made for a buyers market in many states and regions. One great place to invest would be Florida. They are overstocked, but not under priced. Yet.

Real Estate In Canada Will Not Follow The Same Path As The US

Real Estate in Canada will not follow the same path as the US. Good for us and bad for us. The downturn in US real estate means we have no market for our now expensive exports of lumber, yet our economy is okay, for now. Article from Globe and Mail.

How To Stage Your Home For Potential Buyers

Check out this blog that is giving tips on how to stage your home for potential buyers. There is a multitude of tips, plus examples in the form of photographs to show you the concepts. You can use these tips to sell your home FSBO.

Realtors Feel It Is In The Best Interests Of Canadians To Own More Homes

Wow, Realtors feel it is in the best interests of Canadians to own more homes. And who would benefit from such a thing. Surely not real estate agents? Although home ownership is positive economically the CREA is pushing the federal government to fight homelessness. Read on Below.

OTTAWA, Oct. 16 /CNW Telbec/ - The Canadian Real Estate Association will
be paying close attention to the Harper government's unveiling of its new
priorities, which are to be outlined in the upcoming Speech from the Throne.
"We hope to see this federal government recognize and assume its shared
responsibility in the development of sound policies for Canada's housing
sector," said Pierre Beauchamp, Chief Executive Officer for The Canadian Real Estate Association. "This Throne Speech represents a great opportunity to address the needs of this important segment of our economy."

REALTORS(R) have been advocating for the development of a national
housing policy where important concerns such as homelessness and the need for radical changes for First Nations housing would be dealt with at the federal
level.

REALTORS(R) have also called for the implementation of much needed fiscal
policies aimed at encouraging investment in real property and an increase in
homeownership for Canadians. Such measures include a capital gains tax
rollover for real property investments and a loan limit increase for Canada's
Homebuyers' Plan loan, which targets first-time homebuyers.

The Canadian Real Estate Association (CREA) is one of Canada's largest
single-industry trade Associations, and represents more than 92,000
REALTORS (R) across Canada. CREA's primary mission is to represent its members at the federal level of government. CREA also works to defend the public's right to own and enjoy property.

Please note representatives of The Canadian Real Estate Association will
be available for comment following the Throne Speech October 16th.

Snap Up Real Estate Has Added A New Real Estate Site

Snap Up Real Estate has added a new site. http://www.SNAPUPREALESTATE.COM/.
That is correct we now cover The US and Canada.
Real Estate has never been so easy.