Tyler Gump

Thinking of selling your home?

In this changing market it is more important than ever to have a leading industry professional give you an accurate home evaluation. With so much competition out there these days price alone won’t sell your home, you need to couple that with the very best marketing in order to expose your home to the highest amount of active buyers.

Tyler Gump uses the latest marketing techniques combined with years of experience and success in order to get your home sold in the least amount of time for the most amount of money.

Tyler Gump specialises in Downtown Vancouver condo’s and is up to date on all aspects of the market. Let Tyler Gump and The Gump Group’s Database of over 1000 contacts (including other realtors, past clients & active Buyers) work for you. All new listings get sent to over 1000 contacts in both email & print form.

Call or email Tyler Gump today to have Tyler give you a complementary home market evaluation and marketing presentation and begin your Real Estate journey.

You can reach Tyler Gump at tyler@thegumpgroup.com, or call 778-859-2248, or visit www.thegumpgroup.com.

Home prices adapt to affordability demands

VANCOUVER, B.C. – October 2, 2008 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in September 2008 to 1,585 from the 2,776 sales recorded in September 2007.

New listings for detached, attached and apartment properties increased 28.8 per cent to 6,142 in September 2008 compared to September 2007, when 4,770 new units were listed.

“After five years of unprecedented increases, housing prices are beginning to realign,” REBGV president, Dave Watt said. “Although the economic situation in the United States has affected consumer confidence globally, the consensus view remains that our local housing market is underpinned by solid economic fundamentals.”

Sales of detached properties in September 2008 declined 50.3 per cent to 546 from the 1,099 units sold during the same period in 2007. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 1.6 per cent from September 2007 to $726,331. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 5.8 per cent.

Sales of apartment properties declined 35.1 per cent last month to 764, compared to 1,177 sales in September 2007. The benchmark price of an apartment property declined 0.7 per cent from September 2007 to $369,062. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined 5.2 per cent.

Attached property sales in September 2008 decreased 41.9 per cent to 450, compared with the 775 sales in June 2007. The benchmark price of an attached unit increased 7.6 per cent between June 2007 and 2008 to $476,585. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 3 per cent.

For more informarion on the Real Estate Market or to list or buy a home please contact Tyler Gump with TRG Realty at tyler@thegumpgroup.com or visit www.thegumpgroup.com or www.vancouverbesthomes.com

IN THE FACE OF THE MEDIA

According to recent broadcasts by the media, the Canadian public are told to brace themselves for a real estate crash, along with a general market crash. I believe that we hold too much stake in our identification with the good ole U S of A. Major Canadian banks, economists, mortgage brokers...just a small list of Canada’s professionals all state that our market is NOTHING like the USA’s. Here are a couple of examples of the differences:

1. Canadian financial institutions business and households have healthier balance sheets than those in the US.

2. Canadian banks have less exposure to the subprime-mortgage market than the US.

3. Canadian banks are less dependent on securitization for the financing and capital markets for their revenues.

Here is a quote that I pulled from Canadian Real Estate Forecast for 2008, which proves that I am NOT alone in seeing the” reality” of the market as opposed to the Media’s “opinion”:

“In sharp contrast to the weakening U.S. economy and deteriorating housing market, Canada’s economy and housing market continues to demonstrate staying power. Canadian mortgage products are markedly different from those offered in the U.S., and the sub-prime makes up a significantly smaller portion of the overall Canadian mortgage market. It is unlikely that the residential real estate industry in Canada will have to endure the kind of sharp correction underway south of the border.”

This morning I pulled an article off the Economic News website in regards to the Royal Bank of Canada. In this article, it states that they are actually benefitting from the US downturn, and they expect nothing short of a climb and an expansion in their business to many more countries in the world. Does this seem like a crisis? Indeed no. Remember too, even with the slow -down of jobs we have been seeing, we are on the cusp of the 2010 Olympics, which will generate more jobs as well. Consumers, there is no need to fear the purchasing of a home. It may come at a turbulent time south of the border, but the slow- down of the real estate market was one that is often seen at the end of a booming cycle, and is natural. In fact, NOW is the all time greatest time to buy a home. It IS a buyer’s market out there with a huge amount of inventory to choose from, which allows you the consumer to have the opportunity to be more choosey than you may have been allowed to in the past booming market now that the prices are stabilizing.

To finalize, below is a quick excerpt from a mortgage broker that I work closely with on a daily basis and hold to high esteem. He has never proven myself, or my clients wrong:

“The Bank of Canada has kept prime steady at 4.75% and there is now pressure for a drop in prime at the next announcement October 21^st. The experts are predicting that the bank will drop slightly or hold steady until the end of 2009 and then we will start to see about a 1% climb in prime in 2010.”

“All of the U.S. problems were totally preventable and the root of the problem was greed. In Canada our traditionally conservative approach by the banks has turned out to be a blessing. The Canadian banks have very little sub-prime exposure in Canadian markets and our sub-prime market is only around 5% versus 35% in the U.S. The housing market here has had a necessary price correction and the market is rebounding as sales are taking off again.”

So, to respond to the media’s scare tactics, this market is returning to a normal one, with prices levelling out. Our lending practices are far tighter and conservative, and the banks all state it. Each professional I turned to, to seek solid advice on today’s economy all have said the same things. We are solid.

So folks, if you have ever thought of buying a home and having a sound investment for you and your family, NOW is the time. I urge you, if you still don’t believe me, go out there and do the research: ask the economists, banks and such. Do not let the reporters determine how your life should be lived, where you go, and be the end all of all you know about the world.

For more information on Greater Vancouver's Real Estate Market contact Tyler Gump at tyler@thegumpgroup.com or go to www.thegumpgroup.com

Real Estate Market Snapshot

I am proud to announce the release of Market Snapshot, it will change the way you look at Real Estate.

Market Snapshot is the latest & greatest tool available to both Buyers & Sellers. It is a fully interactive MLS enabled home search that gives the user all the latest Active & sold listings in any area as well as a full satellite map of the location of all the listings. It also enables the user to compare list vs. sold prices, days on market & number of homes listed vs. homes sold. This program has set a new benchmark for Real Estate Searches.

In this changing Real Estate Market it’s becoming more & more important for both Buyers & Sellers to become more informed not only on their local market but on the Market as a whole. Market Snapshot will enable Buyers to view all the recent Active & Sold listings in any one Postal Code at a time and compare all aspects of the listings enabling the Buyer to make a more educated and informed decision. For Sellers it will allow them to again view all active & sold listings in their neighbourhood and help them properly price out their home for the best chance at a quick sale.

As our market has changed form a Seller’s Market to a Buyer’s market this tool will prove to be an invaluable one.

For more information on Market Snapshot please contact Tyler Gump at tyler@vancouverbesthomes.com or visit www.vancouverbesthomes.com.

To view Market Snapshot in your area just click on the link below and follow the search instructions.

http://www.homeinsight.com/Widget/default.asp?CP4SMQKST24K

Vista Place Assignments in North Vancouver

Are you looking to purchase or sell an assignment in Vista Place at 158 West 13th^nd St. or 1320 Chesterfield Ave. in Central Lonsdale North Vancouver? If so, you should go to this website – www.buildingdigger.com. Here you will be able to see all available units currently for sale. For information on listing your assignment you can contact Tyler Gump at tyler@thegumpgroup.com and arrange your free market evaluation today. For more information on Tyler Gump, The Gump Group, or Building Digger please visit the websites below.

www.thegumpgroup.com

www.vancouverbesthomes.com

www.buildingdigger.com