Halifax, NS

It could not be a better time to start to renovate your home. The government has recently announced a new program to help home owners with renovation projects. Coupled with the the Eco Energy retrofit grants, this makes renovating your home not only logical but economical as well.

Below is a list of a few highlights of the program

- 15 per cent tax credit of up to $1,350 for eligible renovations to home or cottage

- The credit can be applied to projects like a new kitchen or bathroom, a new furnace, water heater, or a resurfaced driveway. Items like new furniture, appliances or home electronics would not be covered

- The total cost has to be in excess of $1,000 and the credit tops out after $10,000 - the 15 per cent credit is applied to the amount between the $1,000 minimum and $10,000 ceiling, hence $1,350. It's a non-refundable credit, which means it will reduce your taxes owing, but you don't get the cash if you have a positive balance.

- The federal goverment estimates as many as 4.6 million homeowners will take advantage of this new program

- Homeowners can also do some double-dipping, as the renovation credit can be claimed on projects that also qualify for ecoEnergy Retrofit grants. Under that program, Nova Scotians can qualify for a federal grant of up to $5,000, and a matching provincial grant of up to $1,500 for renovations that make your home more energy efficient.

- Last week's budget also included some tax relief for first-time homebuyers. This includes a credit of up to $750 to cover closing costs, such as legal fees, title insurance and deed transfer taxes. This credit covers 15 per cent of eligible closing costs, up to a maximum of $5,000.

- As well, the amount first-time buyers can withdraw from their RRSPs for a down payment has been increased from $20,000 to $25,000, the first major change to the RRSP homebuyers plan since it was introduced in 1992.

Information Taken From Chronicle Herald

This is great news for homeowners and first time home buyers. This will add a much needed boost to the ecomomy. If You would like more info on this program do not hesitate to contact me at 902-488-0012 or email andrewperkins@exitmetro.ca

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4th Quarter MLS residential stats for Halifax, Dartmouth and surrounding areas, released by Canada Mortgage and Housing Corporation. Lets have a look at some of the highlights of this report.

Sales Decline but Prices Steady

# of Sales 6205 - down by 10.7% from last years record total of 6945

Despite the decline in sales 2008 remained above the 10 year average.

Dartmouth City had the most sales with 1669, only 4% fewer than 2007

Sales in Halifax City declined by 11%, Bedford-Hammonds Plains declined 15.6% and Sackville declined by 13.1%. Fall River showed the largest decline in sales by 22%. These numbers are based against last years stats which were a record for HRM.

Despite the decline in sales the average price continued to rise by 6.6%. Which is consistent with the annual 10 year average of 7.7%

Areas of Note

2. South End/ Sales down 17.6% Average price up 17.3%

7. Spyfield/ Sales Down 10.6% Average Price up 19.1%

13. Cricton Park/Alboro Lake, Dartmouth/ Sales up 13.4% Average Price up 15.8%

26. Beaverbank,Upper Sackville/ Sales down 28.2% Average Price up 12.6%

These areas saw dramatic increases and decreases in both sales and average price. If you would like to know what the numbers were in your area you can email me at andrewperkins@exitmetro.ca. I would be more than happy to provide you with those numbers.

I am still in the process of revamping my website and my blog. I am hoping to complete this in the near future. Change is always good.

If you are looking to buy or sell real estate in Halifax, Dartmouth and surrounding areas do not hesitate to call me at 902-488-0012.

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Do you remember the cheesy joke about the guy who tries to swim across the Atlantic....gets half-way.... doesn't think he can make it to the other side, so he turns around and swims back! haha

Well some days I feel like that swimmer, not sure if I'll make it to my goal but I've gone too far to swim back....so on those days when I'm 'treading water' I try to keep these points in mind:

• This is a career of my own choosing.
• Compared with other businesses, it's really inexpensive to grow.
• All undertakings are challenging in the beginning.
• A positive affirmation will kick-start the day.
• It's important to surround yourself with successful, upbeat people.
• On a day when the phone does not ring, pick it up yourself.
  
• Do something that makes you happy.....with me, it's playing my fiddle.
• Remind myself that life is ever-changing.....this too shall pass.

There....I feel better already! Thanks for stopping by!

As it happens, my daughter and her partner are moving to another province; I had already mader her aware that I would be happy to represent them in this business if the opportunity should arise. As a new agent, it will be good experience for me and it will save them some $.

Although I intend to represent them in the same thorough manner I would serve all clients, I am wondering if others might share opinions as to working with family members. [my two sisters did business together years ago and are no longer on speaking terms.]

I would say at the outset that communication is probably the key.....they must be upfront with me in giving their opinions every step of the way; similarly I must be direct with them, as I would be with all my clients.

How can I ensure a happy successful experience for everyone?

A recent release from Nova Scotia Association of Realtors states that the real estate market in our province is still going strong. 2008 was another great year according to Robert Wambolt, President of NSAR. See the below article

Nova Scotia Real Estate posts near-record results in 2008: NSAR

HALIFAX - The Nova Scotia residential MLS re-sale housing market defied national trends in 2008, posting near-record results for the number of units sold and the dollar value of residential transactions. The year also ended with a record residential average MLS price for the province and a record for the number of new listings. By comparison, the national housing market ended 2008 with a slight decline in average price, and with a 17 per cent drop in the dollar volume of residential transactions.

"There is no doubt 2007 was the record-setting year for real estate in Nova Scotia. It may be a while before we surpass those statistics," says Robert Wambolt, president of the Nova Scotia Association of Realtors. "That said, it's always a good time to buy in Nova Scotia. As the results of 2008 show, our market fundamentals are solid. Interest rates remain low, and there is still consumer confidence in the housing market in our province."

2008 Nova Scotia Real Estate Market Snapshot (2008 compared to 2007):
--There were 12,480 properties of all types sold through the MLS system (Down 9.1%);
--The total value of all sales processed was $2.2 billion, the second highest value of record (Down 5.3%);
--There were 10,874 residential properties sold (Down 8.4%);
--The total value of all residential sales $2.1 billion, the second highest value of record (Down 3.8%);
--The MLS average price of a residential property for the year was $189,902, an annual record (Up 5%);
--There were 20,117 new listings processed through the MLS system (Up 6%).

The number of new and active residential MLS listings began to increase in the final quarter of 2008, marking the move to a more balanced market. "The real estate market in Nova Scotia is moving towards a more balanced position for both buyers and sellers, and doing it without the major price and volume declines reported in other parts of Canada," adds Wambolt.

December 2008: The residential MLS average price in Nova Scotia set both an annual record in 2008 and a monthly record at the end of December. The monthly residential average in December was $181,646, up six per cent from the end of December 2007. This continues the trend through 2008 of monthly increases in average price of six per cent or less. The annual residential average price was $189,902, also a record.

"That's an important barometer showing we are escaping the major price fluctuations of other markets, and showing continued consumer confidence in our real estate market," Wambolt says.

The total value of all MLS sales reported in the province in December was $82.8 million, down 16 per cent from the total value of all MLS sales in the same month of the record-setting 2007. There were 504 properties sold through the MLS system in Nova Scotia in December, a decline of 16 per cent from December 2007.

During December, the decline in sales combined with a higher number of active listings continued to push the real estate market in Nova Scotia towards a more balanced position. There were 664 new MLS residential listings added in December, so by the end of the month there were 6,292 active residential listings, a 23 per cent increase in the number of active listings compared to December 2007.

"As sales activity continues to slow from its record-setting pace in 2007, listings are staying on the market longer," Wambolt adds. "That emphasizes how important it is for sellers to work with a realtor to price their homes realistically and benefit from their marketing expertise."

Based on the number of residential units, sales in December were most active in Cape Breton and the north shore. In the Halifax-Dartmouth region the value of MLS residential sales in December was $54.5 million, a decrease of 12 per cent compared to the same month a year ago. A total of 233 residential properties were sold in Halifax-Dartmouth through the Association's MLS system, a 22 per cent decline in units sold compared to December 2007. The average residential price in the Halifax region in December was $234,063, up 12 per cent compared to the average price in December 2007.

In the area served by the Annapolis Valley Real Estate Board, all MLS sales in December totaled $5.5 million, a 32 per cent decrease from December a year ago. There were 34 residential properties sold through the board's MLS system in December, down 32 per cent compared to the number of units sold in December last year.

The average residential MLS price in the Annapolis Valley in December was $125,849, a five per cent decline from the average price in December of last year. - Staff

This is a very positive report for the Nova Scotia Real Estate market. With all the news of how bad the economy is, it is good to see that the market is remaining strong.

I am in the process of making major changes to my website and my blog site. I am hoping to have things clued up in a couple of weeks. I am very excited for these changes so stay tuned.

If you are looking to buy or sell Real Estate in Halifax, Dartmouth and surrounding areas give me a call 902-488-0012, I would be more than happy to assist you.

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