Centum Rate Watch - November 29, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

Centum Rate Watch - November 21, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

Say Goodbye to Your Mortgage!

I just helped a client save $107,464 in interest and instead of paying their mortgage for the next 30 years (which is what their bank was recommending) they will pay it off in 18 years and 6 months – that’s 11 ½ years sooner!

Can you imagine how excited they must feel? It’s like permanently removing these huge heavy chains from around their neck that have been choking the life out of them. Now they can breathe. Now they can live. Now they have a plan!

Our unique Bye Bye Mortgage Program and FREE software shows homeowners how to pay off their mortgage and consumer debt in the fastest amount of time. The detailed plan is like a financial GPS with one goal in mind – paying off your mortgage and consumer debts in the fastest, most efficient way, saving you the most amount of money.

Who else do you know wants to pay off their mortgage faster? We would like to help them implement a plan to get them Mortgage-Free sooner.

Call Now at (604) 994-0203.


Laurence Rabie, CGA AMP
CENTUM Mortgage Partners Inc.

P.S. This FREE tool can help position you to dominate your market area by working with more buyers. Call us to find out how you can position yourself as a dominant buyer agent in your market area.

Call me at (604) 994-0203

Greater Vancouver Real Estate Prices - October 2011

GREATER VANCOUVER AT LOWER END OF BALANCED HOUSING MARKET

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.

“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,374 in October, which is on par with the 10-year average. This represents an 18.3 per cent increase compared to October 2010, when 3,698 properties were listed for sale on the MLS®, and a 23 per cent decrease compared to the 5,680 new listings reported in September 2011.

The total number of properties listed for sale on the Greater Vancouver MLS® system currently sits at 15,377, which is 9.3 per cent higher than the 14,075 properties listed for sale during the same period last year. October was the first month that the total number of property listings showed a decrease this year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010. However, since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.3 per cent.

Sales of detached properties in October reached 974, which represents virtually no change from the 976 detached sales recorded in October 2010, and a 34.5 per cent decrease from the 1,487 units sold in October 2009. The benchmark price for detached properties increased 11 per cent from October 2010 to $884,778, but decreased 1.3 per cent compared to the previous month.

Sales of apartment properties reached 958 in October, a 2.6 per cent decrease compared to the 984 sales in October 2010, and a decrease of 40.4 per cent compared to the 1,607 sales in October 2009. The benchmark price of an apartment property increased 3.2 per cent from October 2010 to $402,702, but decreased 0.7 per cent compared to the previous month.

Attached property sales in October totalled 382, a 1.3 per cent increase compared to the 377 sales in October 2010, and a 37.4 per cent decrease from the 610 attached properties sold in October 2009. The benchmark price of an attached unit increased 6.5 per cent between October 2010 and 2011 to $519,455, and increased half a per cent compared to the previous month.

Click here for the full report.

Fraser Valley Real Estate Prices - October 2011

Fraser Valley Real Estate Prices - October2011 Report click here

ADVANTAGE BUYERS… IN FRASER VALLEY’S HOUSING MARKET

Below average home sales combined with a regular influx of new listings continue to give buyers the upper hand in communities south of the Fraser River, including Mission. However, according to the president of the Fraser Valley Real Estate Board, Sukh Sidhu, “There is action when the property is competitively priced.

“It is not a quiet market. Priced-right properties are selling thanks to the continuation of low interest rates.” Sidhu adds, “What’s happening is that there is a large amount of inventory available in the Fraser Valley, in particular with condos and townhomes, and that’s what’s holding prices in check.”

The Fraser Valley Real Estate Board processed 1,139 sales in October on its Multiple Listing Service® (MLS®), an increase of 12 per cent compared to the 1,014 sales during the same month last year and a decrease of 2 per cent compared to 1,165 sales in September.

In terms of listings, the board posted 2,511 new properties in October, an increase of 18 per cent compared to October of last year and a decrease of 5 per cent compared to September. The number of active listings in the Fraser Valley dipped in October, going from 10,096 in September to 10,005.

Sidhu says, “The good news for sellers is that although inventory is high, it’s not near record highs and sales remain steady. This is why the overall benchmark price for residential properties has remained unchanged for six months.”

The benchmark price (the price of homes with characteristics typical to that area) of a single family detached home in the Fraser Valley in October was $530,335, an increase of 4.9 per cent compared to $505,759 in October 2010 and on par with the price in September.

For townhouses, the benchmark price in October was $325,482, an increase of 2 per cent compared to the same month last year when it was $319,058 and down 0.6 per cent compared to September. The benchmark price of apartments in October was $243,725, an increase of 1.3 per cent compared to October 2010 and on par with the price in September.

The average number of days to sell a Fraser Valley home varies depending on the property type. Sidhu says the average of 45 days to sell a single family detached home has been constant for three months. In October, townhomes took on average 55 days to sell and apartments 75 days.

Fraser Valley Real Estate Prices - October 2011 Report click here

Centum Rate Watch - November 07, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.

Centum Rate Watch - November 01, 2011

Click HERE for our current interest rate sheet.

If you are looking for expert mortgage advice, please give us a call or shoot us over an email. We'd be glad to help you out.

If you have any friends or family that are thinking about buying a home and they need a mortgage, or if they are renewing or refinancing their existing mortgage, please call us so we can connect up with them.