I just read this article by Larry MacDonald of Canadian Business
In it he reviews five reasons why the housing market in Canada won't crash. I have to say he made a very strong case on all five. He certainly is bang on when talking about the differences in local markets. As a resident of Nanaimo, I immediately make the comparison with the insanely high prices in Vancouver and can agree with him whole heartedly.
Also of great note is the difference between Canadian and US housing markets with Canada having greater recourse rights and the fact that the subprime mortgage market was far less advanced in Canada. These are valid points that made a huge difference with regard to the last crash and how we Canadians fared as a nation.
At any rate I feel that this is a must read so am giving you the link. This would be a great topic for discussion amongst both Canadian and American ActiveRainers and I look forward to seeing the commentary.
Good News for Canada and the US
According to the British Columbia Real Estate Association, things are looking bright on the horizon, on both sides of the border. Most certainly this is welcome news, so I must share it! Below is their latest take on things:
"Canadian Manufacturing and US Housing Starts - January 19, 2012"
"Canadian manufacturing sales bounced 2 per cent higher in November, following an 0.8 per cent monthly decline in October. The gains were driven by higher sales in the petroleum and coal products industries along with strength in the auto sector. Total manufacturing sales were 1.7 per cent higher in volume terms. Higher sales were reported in 80 per cent of the manufacturing sectors surveyed. Sales by BC manufacturing firms grew 0.9 per cent month over month in November and were almost 6 per cent higher than in November 2010.
South of the border, US housing starts (a key bellwether for BC's forestry sector) fell 4.1 per cent in December, coming in at a seasonally adjusted annual rate of 657,000 units. However, the pace of housing starts in the fourth quarter of 2011 represented a post-recession high, a strong signal that US home construction should continue to improve in 2012."
What a pleasureable read this is!
It appears that they are anticipating 2012 to be a year of good growth for both countries, and as real estate agents, we are more than ready to ride that tide...are we not? I look forward to a year of doing business with my Active Rain family and of prosperity for us all. What is your take on this? Looking forward to your comments!
To Use A Disclosure Statement Or To Not Use A Disclosure Statement: That Is The Question
I know I am opening up a real can of worms here, but how often in our careers as real estate agents has this question arisen? This article and news clip was on CBC last night and really nails the issue. I believe the rule is, "Disclose, disclose, disclose....and if in doubt: DISCLOSE".
This real estate agent and seller may have gotten away with it, but I personally think the agent should be reprimanded for a breach of ethics....Do we not have a code of ethics? I recall that we do, as I had to learn it when I took my licensing course. This kind of thing makes the rest of us look bad; untrustworthy.
Personally, I would have let the seller go as a client, rather than have my name tied to the result. There is plenty more business than just this one sale out there: All the details should have been disclosed.
On another point, the infra red tool that they mention the inspector did not have should be a mandatory tool in their tool kits if they want to be licensed inspectors. The client needs, is paying for and deserves protection. This man and his wife just bought the house, just had their baby, and now cannot live in the lower part of their home a all as a result of deliberate concealment of ALL the facts behind the original issue that was "resolved".
News flash for the seller: Band-aids don't stop hemorrhages. Too bad there isn't a lawyer out there willing to do a little pro-bono work to help this guy and his young family. I feel for them.This buyer is right: This is DISGUSTING.
Do You Understand Market Value?
Let's say it's time to sell the car. What steps would you take? It probably would go something like this:
2. Advertise priced within that range.
Though you may not realize it yet, you've just determined the market value of your car.
Simply stated, market value is what buyers are willing to pay for that car.
What if you want to put your house on the market, though?
It should go something like this:
How does a REALTOR® help you determine your home’s current
market value?
He or she will examine a variety of factors:
Knowing your homes' market value allows you to make
an informed decision regarding correct pricing that it will attract
the right type of buyers and earn you the best possible sale price.
Pricing your home high above its market value in the
hopes that some unwary buyer will buy it rarely works.
Your property may be worth more than you
think. If you want to find out, invite a good
REALTOR® to your home to do an assessment.
Another Nanaimo Home Sold!
This great looking half duplex comes completely furnished and is turn-
key. Situated close to bus routes and the university, it lends itself to versatility either as a family home, or a rental. Perhaps you can have students stay in the spare bedrooms as a mortgage helper! The choice is yours. Beautifully kept and turn-key, it`s a great opportunity all the way 
around. Don`t miss your chance at this one!
As an experienced RE/MAX real estate agent with over 6 years of experience I bring a high standard of service and expertise to the table. I have been an islander since 1986, and in Nanaimo since 1998.
As an experienced real estate agent with 6 years of experience with RE/MAX of Nanaimo I bring a high standard of service and expertise to the table. I have lived on the island since 1986 and in Nanaimo since 1998. I treat all my clients as I would want my own family to be treated: with professionalism, loyalty and integrity.
I AM DEDICATED TO LIVING BY THESE CORE VALUES:
Live by the "Get By Giving" philosophy.
Make my clients' #1 goal my #1 goal.
Live up to my standards, despite temptations to lower them.
Be willing to work toward a common good.
Do what I say I will do, sometimes more, just never less.
Prior to becoming a REALTOR® I worked as a ticketed carpenter. I bring my trade knowledge to the table when helping buyers choose wisely and when helping sellers prepare to list. I can identify potential issues that should be addressed before the listing process as well as help buyers look more closely at the quality of home they are purchasing. Residential real estate is my specialty and my passion. I am an all-in kind of agent. My work ethic is the same ethic that took me to 8 Nationals and 6 World Championships as a Canadian Champion Powerlifter. I still compete after 32 years at this level and maintain this level of performance in all I take on, both professionally and personally.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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