7 July 2009.pub by fjzhangweiqun

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                 How’s the Market?” 946 purchases in Victoria think it is great!
WHAT TO TAKE TO BED WITH YOU                                   VICTORIA REAL ESTATE MARKET CONDITIONS
                                                                                Housing Sales Surge
         Put your car keys beside your bed at
night. If you hear a noise outside your home or                 The arrival of summer saw a significant surge in property sales
someone trying to get in your house, just press the   throughout the Greater Victoria area along with modest price increases
panic button for your car. The alarm will be set      for single family homes and townhomes. A total of 946 homes and other
off, and the horn will continue to sound until ei-    properties sold in June through the Victoria Real Estate Board’s Multiple
ther you turn it off or the car battery dies. This    Listing Service (MLS), up over 7% from the 879 sales in May and up 31%
tip came from a neighbourhood watch coordinator.      compared to the 723ales in June of last year.
Next time you come home for the night and you                   Victoria Real Estate Board President, Chris Markham, says the
start to put your keys away, think of this:           market has regained strength faster than anticipated, “For the past couple
         It's a security alarm system that you        of months we have seen growing strength in the market as many people who
probably already have and requires no installa-       were waiting to see which direction the market would move in have decided
tion. Test it. It will go off from most every-        now is the time to buy. However, the rebound has been stronger than we
where inside your house and will keep honking         anticipated and this bodes well for the coming months” Markham noted
until your battery runs down or until you reset it    that the number of sales in June was very close to the 949 sales in June of
with the button on the key fob chain. It works if     2007...the peak of the recent market.
you park in your driveway or garage. If your car                There were 3,794 properties available for sale at the end of June,
alarm goes off when someone is trying to break        down 16% from the 4,513 properties available in the same month a year
into your house, odds are the burglar/rapist won't    ago. “The decline in the number of properties available for sale is making it
stick around. After a few seconds all the             more of a challenge for REALTORS to find the kinds of homes buyers are
neighbours will be looking out their windows to       looking for,” noted Markham. “The drop in available inventory is also
see who is out there and sure enough the criminal
                                                      reflected in the price increases for single family homes and townhomes that
won't want that. And remember to carry your keys
                                                      we saw last month,” he added. There were 26 sales of single family homes
while walking to your car in a parking lot. The
alarm can work the same way there. This is some-      of over $1 million throughout Greater Victoria, including 1 in Oak Bay of
thing that should really be shared with everyone.     over $5 million.
Maybe it could save a life or a sexual abuse crime.             The average price for single family homes sold in Greater Victoria
                                                      last month was $588,186, up from $573,442 in May. The overall average
         I am sending this to everyone I know         price of condominiums was $298,200, down slightly from $306,971 in May.
because I think it is fantastic. Would also be use-   The average price of all townhomes sold last month was $413,218, up from
ful for any emergency, such as a heart attack,        $400,788 in May.
where you can't reach a phone. My Mom has sug-
gested to my Dad that he                                        MLS sales last month included 539 single family homes, 242 con-
carry his car keys with him                           dominiums, 104 townhomes and 18 manufactured homes.
in case he falls outside and                          For more information, visit www.jim4homes.ca click on market
she doesn't hear him. He can
activate the car alarm and                               conditions. Scroll down to summary reports and graphs.
then she'll know there's a
problem.                                               For more information, go to www.jim4homes.ca
             Did You Know                                   Mortgage Rates               (Fixed Rate Mortgages)

•        If you cut off the wide end                  1 year closed:                  2.90%          Prime Rate: 2.25%
         of each stem before storing,                 3 year closed:                  3.15%             As of June 29, 2009
                                                      5 year closed:                  3.79%
          you will have juicer carrots                7 year closed:                  5.05%
                                                     10 year closed:                  5.15%
•        To keep cookies fresher store                5 year Closed Variable:         2.65%
         them in an ice bucket                        Home Credit Line:               3.25%

•        If you put the cheese grater
         In the freezer before use it                                     Go to jim4homes.ca
         will keep cheese from sticking             click onto Mortgage Rates and Calculator for your inquiries.

       Make Sure You Understand                                       Buying Recreational Property
             Closing Costs                                   Summer’s here, and many Canadians are taking a look at the
                                                    investment and lifestyle benefits of recreational property. Whether
         Whether you are among those who            your perfect place is a cottage by the lake or a cabin in the mountains,
are buying a home this spring or are still          you should be able to obtain financing on a second home with the same
contemplating a move, it pays to be informed        terms as financing on your principal residence.
about the closing costs you may have to incur                How much you can afford to borrow depends on the size of
when completion date comes on the closing of        your down payment, your income, mortgage interest rates, as well as
your real estate purchase. Many homebuyers          your other financial obligations. A mortgage consultant can obtain a
are startled to learn that after they arrange       mortgage pre-approval, which will give you a clear sense of how much
their mortgage they have to pay a range of          you can reasonably spend.
additional fees to finalize the deal.                        With a growing number of mortgage options on the Canadian
         Your exact closing costs will depend       market, as a prospective borrower you should understand your financ-
on where you live, how much you are borrow-         ing options. Emotion shouldn’t trump common sense when it comes to
ing, how you finance your mortgage and your         buying vacation property. Buyers need to do their mortgage home-
closing date. The rules and regulations sur-        work, and the advice of a mortgage consultant can help them get the
rounding the various mortgage fees are com-         most for their vacation home dollar.
plex, and can vary from lender to lender.                   Another option is to stay home and enjoy our own backyard
                                                    with BBQ’s and friends. You can also take a tour of your own city,
          A mortgage professional can offer
                                                    and find interesting things to do. Let’s be a visitor in our own home
you a wealth of advice on what these closing
costs are, which ones you’ll have to pay, and       town or city.
even how to minimize what you pay. He or
she can answer your questions on costs you
may encounter such as the land transfer tax,
title insurance, as well as fees for an appraisal
and/or a home inspection, a land survey, and
legal services.




Would you feel comfortable introducing me to the friend’s, relatives and neighbours you
care about, who can use my help?

								
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