Hi everyone!

Can you believe it's mid-August already? Tree leaves are already starting to fall, and the local newspapers are stuffed with 'back-to-school' flyers!

The real estate market continues to be very active, with fewer homes available for sale, and strong buyer demand pushing prices upwards. See details below.

Real Estate Matters

Here's the REBGV's Housing Market Update for July. Sales are up 30% over last year and 33% above the 10 year average, fuelled by strong consumer confidence, low interest rates and low inventory.

According to CMHC there is little risk of a correction in the Vancouver market

Vancouver Sun: Five problems with Metro Vancouver's housing debate on affordability. Plus here's the latest UDI/Vancity housing affordability index results

Hey boomers, here's what to do with your housing pot of gold

Canadians are spending more on fixing homes than buying new ones - to the tune of $68 billion. Check out the Market In Action section below for some great 'before' homes!

For fun: see what $450K of real estate looks like across Canada

Email Kathy

604 329 1405

Market Statistics for July 2015

SnapStats Reports are a great way to keep on top of what's happening in specific cities an neighbourhoods across the Lower Mainland each month:

- The Metro Vancouver report covers Vancouver, West Van, North Van & Richmond

- Burnaby, New West, Tri-Cities & Ridge Meadows, are in the Greater Vancouver report

- Fraser Valley report covers the south side of the river to Abbotsford/Mission

Keep an eye on price trends!

To better understand house price trends, check out the statistics from the Greater Vancouver and Fraser Valley real estate boards. They report on Home Price Index changes by city & property type (similar to the CPI). You can also find copies of these reports on my website on the tab How's the Market?

Market in Action

Speaking of renovations, below is a sampling of good solid homes on the market that could use a bit of updating. If you want any additional information, let me know!

CLICK ON THE PHOTOS TO SEE ADDITIONAL PICTURES.

Collingwood Vancouver East	Seafair Richmond	East Burnaby

Built in 1929, well maintained home on south side of street with great views of north shore List $1.05M	Beautiful, split-level family home built in 1959, close to shopping, schools, parks. List $1.188M	Built in 1954; same owner for 40 years. New roof and windows. Suite potential List $818K

Fraserview New Westminster	Nordel North Delta	Blueridge North Vancouver

Original owner home, custom built in 1988. Well-maintained, private yard List $949K	Great family home on quiet street,circa 1974. 2600sf, 5 bedrooms. Central AC List $635K	Immaculate one owner home on a beautiful, level 10,350 sf lot on a great street. List $1.270M

Closing Thoughts

The Fair at the PNE starts August 22 -which usually means rain (make that much-needed rain), but the forecast looks pretty good. Enjoy the rest of the summer!

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