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Hi everyone!  To celebrate all things February: 

 

Here's a cheat sheet with everything you ever wanted to know about Ground Hog Day.  In honour of Valentine's Day, check out pics of the world's top 10 most romantic hotels (who knew that Winnipeg would make the list?). Lastly, did you know that someone born on Feb 29 is described as being born on Leap Day (or Leap Year Day)?

Real Estate Matters

I hope you'll find the following commentary on the state of the market as interesting as I do:

 

Experts say Vancouver's housing market unlikely to face significant price correction

 

According to BMO, the housing bubble is really a balloon that will deflate slowly.

  

Courtesy of Maclean's magazine, advice on buying & selling in a cooling housing market (hint: don't try to time the market)

 

The Financial Post's perspective is that perhaps you shouldn't lock into a fixed rate mortgage quite yet

 

Here are some home reno investments that have proven to return their value, or close to it

 

Mike Holmes from HGTV has some great tips this month:  Good builder = quality home, and important differences between contractors that build new vs renovation contractors

 

And for something completely different, here's the top 10 countries to retire abroad (with photos, of course)

The top 3 reasons to visit my website!

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View my profile on LinkedIn 

Market in Action

Tables of numbers can be so boring.  Pictures are much more fun...  Below are selected homes that sold during January at prices near the benchmark prices in the next section.  If you'd like more information on any property or neighbourhood, let me know!

MLS# V923233 

  v923233

Burnaby North, Brentwood

List Price $928K

5 Days on Mkt

MLS# V915055

 v915055

West Van, Cedardale

List Price $2.38M

101 Days on Mkt

MLS# V911371

 v923644

North Van, Upper Lonsdale

List Price $975K

6 Days on Mkt

MLS#V915269
 v915269

  Port Moody, College Park

List Price $779K

93 Days on Mkt

MLS# F1202106

 f1123112

North Surrey, Fraser Heights

List Price $530K

1 Day on Mkt

MLS#F1200245

 f1200245

Abbotsford West

List Price $425K

1 Day on Mkt

Market Statistics for  January 2012

The January stats packages from the Real Estate Board of Vancouver and the Fraser Valley Real Estate Board are available on my website at How's the Market

  

New News:  The MLS Home Price Index has now been standardized across 5 major markets, making it much easier to monitor price trends.  The HPI's base year is 2005. Looking at the table below, you can see that the benchmark price in Burnaby East has increased 68.4% since 2005.  

 

Let's look more closely at single-familly homes across the region:  

    

 

Area

Benchmark Price

$

1 Year Change

House Price Index

(base 2005)

 

Burnaby East

728,800

8.6%

168.4

 

Burnaby North

905,200

12.3%

174.4

 

Burnaby South

947,800

15.5%

180.9

 

Coquitlam

684,600

6.1%

152.3

 

Ladner

620,400

3.9%

148.0

 

Maple Ridge

465,500

1.5%

131.0

 

New Westminster

655,300

7.1%

169.0

 

North Vancouver

957,800

11.0%

152.6

 

Pitt Meadows

507,800

6.1%

140.7

 

Port Coquitlam

549,100

5.7%

147.6

 

Port Moody

748,900

2.1%

144.7

 

Richmond

1,004,300

8.0%

202.2

 

Tsawwassen

685,100

9.9%

145.9

 

Vancouver East

827,500

12.9%

184.1

 

Vancouver West

2,204,500

21.4%

229.5

 

West Vancouver

1,831,500

18.2%

168.3

 

North Delta

515,600

5.2%

149.2

 

North Surrey

532,800

1.3%

146.2

 

Surrey Central

542,900

4.9%

143.7

 

Cloverdale

551,300

1.4%

134.2

 

S Surrey/White Rock

910,700

17.6%

165.0

 

Langley

552,000

6.2%

138.1

 

Abbotsford

420,400

-1.5%

127.6

 

Mission

355,600

-1.9%

124.4

Closing Thoughts

Calling all Facebook fans:  for 2012, I'm trying to be 'more social'.  Here's how you can help me out:  please take a peek at my real estate page, and if you like what you see, please 'like' the page to see my posts on the real estate market and home ownership.

 

Enjoy the sunshine (liquid or otherwise)!Can't see the images? Click the link above!  Spring's just around the corner, I promise (but I'm no ground hog...)

 

Kathy

 

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Refer someone you care about to someone you trust

 

Kathy PlanteCan't see the image? Click the link above

604-329-1405

Sutton Group - West Coast Realty