Larry Estabrooks, REALTOR®/Moncton, NB, Canada

Below is my Metro Moncton (just Moncton, Dieppe & Riverview) Housing Market Report for the second quarter of 2011. I have separated existing residential and new construction sales below. I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. And a REALTOR®.

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EXISTING HOUSING ONLY

Second quarter unit sales of existing residential properties are up from last year and the average list and sale price is also higher. Days on the market is slightly lower. Not a record second quarter but respectable.

Month	Avg. List $	Avg. Sale $	Sale to List %	Days on market	Sales #
Jun-2011	180870	173565	96	77	126
May-2011	194291	187523	97	73	138
Apr-2011	193438	185688	96	90	126
3 months:	189679	182421	96	80	390

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Jun-2010	184618	178180	97	79	116
May-2010	177541	168845	95	89	120
Apr-2010	178898	172986	97	88	122
3 months:	180296	173281	96	85	358

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Jun-2009	167772	161543	96	73	122
May-2009	172846	166306	96	71	125
Apr-2009	174003	167269	96	72	97
3 months:	171373	164888	96	72	344

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Jun-2008	170726	164734	96	66	163
May-2008	158761	152913	96	73	176
Apr-2008	163521	158277	96	74	122
3 months:	164251	158277	96	71	461

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Jun-2007	159588	154292	97	73	174
May-2007	163567	158001	97	67	157
Apr-2007	160187	155078	97	70	129
3 months:	161114	155779	97	70	460

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Jun-2006	149136	143169	96	69	127
May-2006	151683	146776	97	64	178
Apr-2006	159435	154003	96	64	106
3 months:	152895	147526	96	66	411

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NEW HOUSING ONLY

Second quarter unit sales of new homes are also up from last year. This is really noteworthy compared to sales of existing homes. About one in four residential sales in the second quarter were new construction.

Month	Avg. List $	Avg. Sale $	Sale to List %	Days on market	Sales #
Jun-2011	177853	179544	101	99	24
May-2011	185471	185893	100	161	51
Apr-2011	164026	166307	101	183	49
3 months:	175522	176925	101	158	124

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Jun-2010	174809	177206	101	159	47
May-2010	186736	189271	101	147	29
Apr-2010	169814	170788	101	152	35
3 months:	176350	178335	101	154	111

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Jun-2009	173619	174486	100	117	47
May-2009	170507	169079	99	176	41
Apr-2009	158746	159655	101	122	35
3 months:	168350	168464	100	138	123

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Jun-2008	161138	162204	101	101	42
May-2008	158602	159734	101	101	44
Apr-2008	162586	161278	99	137	49
3 months:	160837	161063	100	114	135

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Jun-2007	166641	167105	100	122	51
May-2007	158427	159161	100	157	52
Apr-2007	155092	154647	100	191	26
3 months:	161002	161392	100	150	129

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Jun-2006	143681	144481	101	109	31
May-2006	159258	159870	100	122	33
Apr-2006	164768	164604	100	128	25
3 months:	155380	188839	100	119	89

3 Comments

May 2011 Metro Moncton Real Estate Market Report

06-27-11

Larry Estabrooks, REALTOR®/Moncton, NB, Canada

What is happening in the Metro Moncton-Dieppe-Riverview real estate market so far this year?

• Unit sales of existing residential properties reported year-to-date to the end of May have not broken the 500 mark for three years. (see my graph below)
• The average sale price of existing properties year-to-date ($175,538) is an all time high though the increase from the same period last year is a modest 2.5% .
• The averages for sales to list ratio and days on the market are unchanged from last year.
• Year-to-date new housing unit sales reported are at an all time high. This is noteworthy compared to sales of existing homes. 30% of all residential unit sales reported year-to-date have been new construction.
  

0 Comments

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Larry Estabrooks, REALTOR®/Moncton, NB, Canada
Licensed Independent Real Estate Agent

Office: (506) 856-0202

Mobile: (506) 856-0202

You deserve the satisfaction of full representation in your real estate transaction. I provide clients with single agency representation and 100%, undivided loyalty. How may I help you?

Photos from Larry Estabrooks, REALTOR®/Moncton, NB, Canada

About Larry Estabrooks, Licensed Independent Agent:

In January 1975I officially started in real estate when, after an examination, the Province of New Brunswick issued me a license as a Salesman for a small real estate firm. Two years later I knew real estate would be my career so I upgraded my licence to Agent (aka Broker in some jurisdictions). An agent license is the top level licence in New Brunswick.

Today, I still take great satisfaction in representing clients with their real estate transactions. What sets me apart from other licensees is my pledge of single agency, full representation, and undivided loyalty to all my clients, whether they are buyers or sellers. I won't double deal you. I say "no" to dual agency and limited representation. I'm a true Independent Agent , not just a salesperson. I employ no salespeople and use no subordinates. When I represent you, I fully represent you!

How may I help you?

My web sites and career credentials

BlogMoncton.com - the #1 Moncton real estate blog

LarryEstabrooks.com - my professional home page

MonctonAgent.com - Who is represeting you?

MonctonBuyerAgent.com - dedicated to buyer representation

MonctonCommercial.com - commercial real estate

MonctonGuide.com -

Rural4Sale.com - all about rural properties

SeasideShediac.com

________________________________________________________________________________________

When choosing a real estate licensee to represent you, do you favour charisma or credentials? While personal magnetism is an asset, perhaps you should also check your representative's credentials for areas of expertise. A credential is an attestation of qualification, competence, or authority issued to an individual by a third party with a relevant authority or assumed competence to do so.

My Credentials:

Appraisal Institute of Canada - Appraisal 101 -
Energy Mines & Resources Canada - R-2000 Builder course
Appraisal Institute of Canada - Evaluation of Energy Efficiency Measures for Residential Buildings
Employment & Immigration Canada - Atlantic Housing Professional Studies Program
New Brunswick Real Estate Institute - certificates in Professional Standards, Business Practices, Arbitration (1990), Ethics (1992), Appraisal and Law.

Here is my record of Continuing Professional Education credits issued by the New Brunswick Real Estate Association since 1999.

• Course / Date / Credits
• Agency 1998 / July 1, 1999 / 3
• Commercial 1999 / July 1, 1999 / 6
• Industry Law Update / February 16, 2000 / 6
• Condo Facts / September 28, 2000 / 3
• Disclosure BJ / July 9, 2001 / 3
• Electronic Signature / October 26, 2001 / 3
• Privacy Act / November 1, 2001 / 3
• High Ratio Mortgage / November 28, 2001 / 3
• Multiple Offers -BJ / February 5, 2002 / 3
• Negotiations / February 21, 2002 / 3
• Condo Sales Seminar / May 2, 2002 / 3
• Ethics & Prof Courtesy / December 3, 2002 / 3
• Advertising/Safety/Privacy / February 20, 2003 / 3
• Safety & Market Analysis -MREB / May 7, 2003 / 3
• Professional Standards / September 10, 2003 / 3
• CMHC 2004 Housing Outlook / February 25, 2004 / 3
• Roles, Responsibility, and Expectations of Volunteers and Staff / September 23, 2004 / 3
• Emerging Trends and Issues / September 23, 2004 / 3
• Atlantic Connection / September 24 to September 25, 2004 / 3
• Selling Across Cultures / October 20, 2004 / 3
• Mortgage Fraud / November 2, 2004 / 3
• Volunteer Service 2004 / December 31, 2004 / 3
• Networking / February 18, 2005 / 3
• CMHC 2005 Housing Outlook Seminar - Moncton / March 17, 2005 / 2
• Pre Licensing Education Instructors Training Session / August 23, 2005 / 3
• All About Offers / June 16, 2005 / 3
• Volunteer Service 2005 / December 21, 2005 / 3
• Grow Houses / January 11, 2006 / 1
• Overview of Pre Licensing Education / February 17, 2006 / 3
• CMHC 2006 Housing Outlook Seminar - Moncton / March 22, 2006 / 2
• Natural Gas- Home Energy of the Future / April 6, 2006 / 3
• Property Inspection, Condition Disclosure Statements and Stigma / June 12, 2006 / 3
• Fraud and Real Estate (CE) / October 20, 2006 / 4
• Real Estate Contracts & Legal Issues / October 23, 2006 / 3
• Education Update 2007 / February 15, 2007 / 3
• CMHC 2007 Housing Outlook Seminar - Moncton / February 27, 2007 / 2
• Agency Fundamentals / March 23, 2007 / 9
• Home Insurance and the Real Estate Professional (CE) / March 24, 2007 / 3
• Filogix Overview and System Functionality / April 12, 2007 / 3
• 2007 Semi-Annual Meeting Education Update / September 11, 2007 / 3
• CREA REALTOR(R) Code of Ethics / Code de déontologie de l'ACI / December 31, 2007 / 3
• CMHC 2008 Housing Outlook Seminar - Moncton / February 26, 2008 / 2
• FIN-TRAC Update 2008 / April 25, 2008 / 1
• Filogix Enhancements for 2008 / May 21, 2008 / 3
• Buyer Agency in a Practical Manner / October 7, 2008 / 4
• CREA REALTOR(R) Code of Ethics - Bill Harrington / October 30, 2008 / 3

Undivided loyalty = 100% loyalty to a client

My Pledge of Undivided Loyalty to a Buyer Client

As a licensed independent Agent, upon entering into a service agreement with a Buyer Client, I promise that I will:

1. ALWAYS put the Buyer Client's interests first and negotiate for the lowest price and most favourable terms possible.

2. ALWAYS immediately disclose to the Buyer Client any potential conflicts of interest including any relationships with property sellers, i.e. for sale by owner advertising, facilitator agreements, or represented sellers.

3. NEVER represent both the Buyer and the Seller in the same transaction.

6. NEVER accept incentives to show or to sell any specific property.

7. NEVER accept incentives to refer a Buyer Client to any specific lender, inspector, lawyer or any other service provider.

8. NEVER ask a Buyer Client to waive his/her right to full buyer representation as is done in double agency.

I have a Single Agency Policy, I may represent either a buyer or a seller, but never both in the same agreement of purchase and sale. Before you disclose too much information to a licensed salesperson, ask if their agency has a single agency policy.

Larry Estabrooks, Independent Agent

Moncton, New Brunswick

Your Real Estate Charter Of Rights

A Guide to Engaging the Services of a Licensed Real Estate Agent in New Brunswick

Real Estate Agents do not sell a product, they sell their service and it's better for consumers, both buyers and sellers, to close a transaction knowing that they have not made significant decisions alone, without the help of a professional advisor.

Whether you're a real estate buyer or seller you have the right to the advice, assistance, and undivided loyalty of your own Agent in your real estate dealings - if you so choose!

You should never assume that an Agent is acting on your behalf unless you have made the necessary arrangements for the Agent to be your Agent.

When buyers engage their own Agent, the Agent is obligated to obtain the property at the lowest price and best terms possible.

When sellers engage their own Agent, the Agent is obligated to obtain the property at the highest price and best terms possible.

It's your right to make all the business decisions including the terms upon which you engage an Agent.

Property finders/facilitators introduce prospective sellers and buyers who will communicate, negotiate, and contract directly. Property finders/facilitators are not licensed nor are they Agents; so they owe no loyalty to either party. They may solicit payment from both parties and they cannot be relied upon or held accountable for any advice or assistance in negotiations.

Single Agent (Buyer's Agent or Seller's Agent) represent the buyer or seller in a fiduciary capacity. They will represent buyers or sellers, but never both in the same transaction. Sub-Agents are Agents of the Listing Agency employed by the Principal and represent the listing Seller.

Dual-agents can legally represent both the Seller and the Buyer with the informed consent of both the Seller and the Buyer. Dual Agency Agreements vary widely and often do not address conflicts in the duties of loyalty, obedience, disclosure and confidentiality in the same way. Read them carefully and remember your right to seek legal advice before you give up any of your real estate rights by signing a double agency agreement.

AGENT - FIDUCIARY

When acting as your Agent, a real estate Agent (and their salespersons) owe the following fiduciary duties to you, the Principal:

• Undivided Loyalty - which prohibits your Agent from advancing any interests adverse to yours or conducting your business to benefit him/herself or others.
• Obedience - which requires your Agent to act subject to your continuous control by not exceeding the scope of authority conferred by you and by obtaining and following your lawful instructions.
• Competence and Reasonable Care - which requires your Agent to: a) protect you from foreseeable risks of harm; b) exercise such care, skill, and competence necessary to ensure the transaction of your business to your best advantage; and c) recommend that you obtain expert advise or assistance when your needs are outside the scope of your Agent's expertise.
• Confidentiality - which prohibits your Agent from using or communicating information confidentially given to or acquired by him/her within the scope of employment as your Agent.
• Full Disclosure - which requires your agent to disclose affirmatively all information concerning the transaction of your business which might affect your best interest including, especially, information about any existing or proposed interests which might be adverse to yours. To be adequate, such disclosure must clearly and completely disclose all the facts including their real effect on your interests and it must occur early enough for you to be able to use the information to take steps to protect your own interests.
• Accountability - which requires your Agent to promptly report to you all money and property received and paid out and, upon request, to render an accounting and return all money and property lawfully belonging to you.

THE SPECIAL VALUE OF FIDUCIARY LOYALTY

When a real estate Agent or Agency (and their salesperson representatives) acts as your Agent, they must:

* Put your best interests before all others including their own. It is this undivided loyalty that represents the extra value that an Agent's services have to consumers over the services of non-fiduciaries, like dual-agents, who owe no undivided loyalty.

* Not represent interests, adverse to you, in the same transaction in which they agreed to act as your Agent because of the inherent conflict in the obligations owed to the two parties. For example, a Single Agent must not represent the seller and the buyer or the landlord and the tenant in the same transaction. If your Agent is disloyal, (s)he could be required to forfeit compensation unless (s)he can prove that you freely gave your Informed Consent to such disloyalty. For your consent to be informed, your Agent must show that (s)he made Full Disclosure of the entire truth, including its real effect on your best interests, in words that plainly explain the risks and detriments of consenting to any proposal that basically asks you to waive your right to your Agent's undivided loyalty.

© 2011 - All rights reserved

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