About Halifax County, NS

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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Your Halifax Real Estate Expert

After a record-setting year in 2007, MLS® sales have cooled in 2008 and activity will remain subdued during 2009. The number of MLS sales dropped close to 11% in 2008 and sales are expected to fall a further 4% in 2009. In spite of the decline in 2008, total MLS performance for the Halifax Region in 2008 was still the second best year on record after 2007!

The average price of an existing home in Metro Halifax continues to rise and while price growth will slow, it will still remain positive throughout the forecast period. Resale prices are expected to rise 3% in 2009, leading analysts to forecast the average sale price of an existing home to be $235,000 in 2009.

For a new home, however, the average price is forecast to be $355,000 in 2009 which is 50% higher than an average existing home.

Download the full forecast from Canada Mortgage and Housing Corporation (CMHC): 2009 Housing Market Outlook - Halifax

It is a buyer's market right now, and with the mortgage rates so low, makes it a good time to buy. So please contact me and we can get started on finding the perfect home, cottage, or investment property for your family.

Also, please don't hesitate to contact me with your questions.

Pam Pritchard 902.483.7119 www.yourNShome.com

2008 - A YEAR OF CONTRASTS FOR NORTH AMERICA

Happy New Year! Let's finally say goodbye to 2008; and oh what a year it was! While the whole of the USA housing market reeled under the weight of the mortgage lending crisis, our Canadian Real Estate markets resisted, for the most part, the many negative events, policies and drivers that caused the American "Market Bubble" to burst.

• Canadian lenders had rejected the move toward sub-prime markets and continued to exercise more prudent mortgage policies and qualifications than south of the border.
• We saw most regional markets perform sensibly. Our rate of new home construction was generally far more in tune with national and regional needs than the speculative new construction rates seen in places like Phoenix and Las Vegas, USA.
• Canadians had greater amounts of equity in their homes compared to Americans. The end result was a much healthier and stable home ownership market, see below:

CANADIAN URBAN MARKETS - SLUMP STEEPENS
In urban markets such as Calgary, Edmonton, Vancouver and Toronto home prices had escalated sharply the last several years due to income growth, strong employment and overall economic health; much of it fuelled by the Alberta oil sands and the commodity-rich Canadian West.

• Our manufacturing and export markets started to erode with the weakening American consumption of our goods and services.
• Demand for Canadian oil, commodities and manufactured goods (notably the auto industry) were seriously damaged by low world-wide oil prices, low competitiveness, unemployment growth and the ensuing, gradual erosion of World markets.
• As demand slipped these same Canadian urban home markets started to experience serious price decreases in early 2008 which continued through the year.
• By the end of the third quarter virtually all Canadian housing markets were performing well down from the record setting outputs of 2007, as predicted by CMHC in 2007. The fall worsened in Q4 when the global banking crisis struck.
• Housing, being driven by supply and demand, was directly affected by these pressures; clearly the sign of an economic recession. Consumer confidence was shaken.

HALIFAX MARKET A BRIGHT LIGHT IN 2008
Halifax was indeed one of the bright lights in Canadian real estate in 2008. While many cities experienced huge decreases - not only in the number of homes sold but also the average home price, Halifax performed comparatively well. While sales were down close to -11% by year's end, average home prices managed to grow by 5.7%; some of that growth driven by the price of new home construction.

• CMHC had predicted that our markets would decrease by about 5.1% in 2008.
• This forecast however proved low largely due to the unforeseen severity of Q4 global and national economic pressures.
• Halifax MLS^® sales had dropped by 7% after nine months and a total of 10.9% by the end of the fourth quarter.
• However Halifax Region total MLS^® performance for 2008 was still the second best year on record after 2007!
• New construction was up 12% versus 2007 for the first nine months of the year, only to slip off by -34% in the very rough fourth quarter finishing down -2% for the year. Multi-family residential starts were affected much more, finishing down -28.5% from last year. Combined residential starts were off -15.8% in Halifax while Nova Scotia as a whole finished on a positive note at 0.2%, virtually unchanged from 2007.

2009 HALIFAX HOUSING FORECAST - CONTINUED HEALTH
All indicators point to the continuation of a comparatively positive market for MLS^® re-sales in the Halifax Region. While we may experience price and unit sale decreases in certain areas, they will be minor when compared to many other areas across the country.

• Economists at TD Canada Trust predict the Nova Scotia economy will shrink by -0.2% in 2009 (compared to the National rate of -1.1% and Ontario and Alberta at -1.9%).
• TD Canada Trust predicts that Nova Scotia's will have the best economic performance in the country!
• Economists predict that new economic growth will begin in Q4 of 2009; countering the current recessionary trends that we will experience the first nine months of the year (TD Canada Trust).
• CMHC predicts 6,200 residential unit sales in 2009 for the Halifax Region, down slightly from this year. In spite of this downturn, at that rate it could become one of the best MLS^® years on record in the Halifax Region.
• Average home prices are predicted to rise modestly by 3.5% to an average of $235,000.
• This average price is heavily influenced by the rising cost of new home construction; a single detached new home in Halifax will cost $355,000 on average.
• Re-sale prices for certain areas of the Halifax Region may experience price decreases in 2009.

MARKET IMPLICATIONS FOR BUYERS & SELLERS

• Our regional economy will continue to experience recessionary trends until at least Q4 of 2009, when TD Canada Trust Economists predict we will see the start of new growth that will continue through 2010.
• Our Halifax Region real estate market is still a balanced market and fundamentally sound; those who understand the market dynamics will be prepared to prosper.
• As re-sale home sale prices in some areas will continue to slow in 2009 these lower prices mean buying opportunities are on the rise for Investors and first time home buyers.
• Buyers may perceive that they are losing money when selling a home in these market conditions. However a home value is only determined by what motivated Buyers are prepared to spend for a specific home, in a specific market, at a specific time. One has to understand and accept this, then plan accordingly.
• Sellers soon become buyers and must remember they will be buying their next home in the same market conditions in which they sold their home. The return on the sale of their home will be proportionate and complementary to their purchasing power for their next home.
• Good news! Mortgage rates are still low and readily available for folks with good credit. Working with a professional Mortgage Broker will ensure that your credit qualifications are in place before shopping.

WHAT DOES THIS ALL MEAN TO ME?
One has to be very well prepared in order to generate a profitable home sale. Motivated Sellers and Buyers must heed the market indicators in order to have success. Successful, profitable home sales will occur for those who respect these changes and choose to work with an experienced, professional REALTOR^®.

Please remember that only three things sell a home - Good Preparation, the Right Price and Good Marketing!

Expert Marketing and full-service support are essential for success. Avoid discount service plans or "For Sale by Owner" do-it-yourself services - doing so may well mean the difference between an efficient sale and a home sale disaster!

• Every neighbourhood and price bracket has competition - be aware of your competition and be ready, then price aggressively to sell ahead of them. The Seller that sells first, amongst "equal competitors" is more likely to extract the highest value! Too much time on the market means eventual price reductions and fewer net dollars in your pocket!
• You can't live in your RRSP! Think about investment strategies where the proven long-term stability of Real Estate puts accrued home equity or retirement savings to work for you. Think about income property buying opportunities for long term investment growth. Call Team Classic today for a professional investment property consultation!
• Remember that prices are slowing down in many neighbourhoods in Metro and surrounding areas; set your expectations realistically and then get to work on a positive selling strategy with your REALTOR^®.
• REALTORS® are trained experts and ready to assist. They understand these tougher markets, know how to manage delicate, changing market conditions and are ready to serve!
• Call your REALTOR^® today!

My last Saturday in Halifax this summer, I was delighted to meet Zimbabwean, Mufaru Chakabuda, who had organized a day of African dance - I love dance.

Mufaru recently emailed very exciting news!!!

Her Maritime Centre for African Dance Adult Troupe is the only Canadian dance troupe invited to perform at the African Inaugural Ball for President Elect Barack Obama, at the Washington DC, Hilton Hotel. That's very soon!

Congratulations Mufaro!

(Mufaro with some tiny students in Nova Scotia)

The dancers will be Vida, Dally, Ruvimbo and Mufaro accompanied by drummers, Glenn Fraser, Wayne Hamilton and Jeff.

Executives from the Council on African Canadian Education and the Office of African Nova Scotian Affairs will be speaking about the history of African Nova Scotians. Thanks to NS Tourism and Culture, Lynn Jones, Wayne Hamilton, Delvina Bernard, YMCA and Halifax Dance. We are excited for this opportunity and know that without your valued support, this would not be possible.

The troup, performing January 18 2009, is in need of donation for travel. Contact Mufaru at afrikandance2005@yahoo.ca

UP-COMING HALIFAX MCAD EVENTS

AFRICAN DANCE WORKSHOPS/PERFORMANCE

Performances/Workshops are available for booking for gatherings, birthday parties, (of all ages), and corporate events and more. Performances include live drumming, and are dynamic, engaging and educational! This is an excellent opportunity for everyone to learn more cultural elements about Africa from dancers raised and born in Africa

AFRICAN HERITAGE MONTH PERFORMANCES (FEBRUARY-MARCH)

Available for booking now, with discounts. Ideal for organzations and schools looking to enhance cultural awareness. Bookings go on through March. Large discounts are available. For any other information, email afrikandance2005@yahoo.ca

AFRICAN RHYTHMN AND DANCE NIGHT - FEBRUARY 15

The African Rhythm and Dance Night, hosted by MCAD, will be held on Sunday, February 15 from 6/30pm onwards. Bring the friends, family for a treat. Enjoy traditional and modern African Dance by MCAD Dance Troupes, children, youth and Instructors! Also included are light African Snacks, including mandaza ( Uganda ), Muriwo nedovi (vegetables with peanut sauce), Samoosa, ( Uganda Style), Plantain with Cassava Leaf. Tickets are $15 and $10 for children. Location TBA

AFRO DANCE WORKSHOP - FEBRUARY 28

This is a day workshop being held in Halifax . Location TBA. Day will feature Gambian Dance, kwaito, Ghanaian Dance, Djembe and more! Workshop will run from 10am to 2pm with breaks. To register or for more details, email afrikandance2005@yahoo.ca or call 902.225.9267

SO YOU THINK YOU CAN AFRICAN DANCE????

February 6-February 8

Weekend Workshop at the Tatamagouche Centre. For Youth with an interest in learning various African Dance Forms. February 6 to February 8. For more details contact the Tatamagouche Centre.

AFRO DANCE DVD PACKAGE

The Afro Dance DVD package is available for purchase, and includes literary material. The DVD is for anyone with or without dance experience as it is a GENERAL introduction at a very basic level. To order your copy email afrikandance2005@yahoo.ca or call 902.225.9267.

AFRICAN DANCE WORKSHOPS/PERFORMANCE

Performances/Workshops are available for booking for gatherings, birthday parties, (of all ages), and corporate events and more. Performances include live drumming, and are dynamic, engaging and educational! This is an excellent opportunity for everyone to learn more cultural elements about Africa from individuals from the continent.

AFRICAN DANCE CLASSES

African Dance Classes of all levels and ages will begin in the week of January 23^rd. Locations will be announced at a later dated. Classes will remain held on the same dates:

Mom and Baby Classes - every Sunday from 3-4pm

Adult Classes - Tuesday 8-9pm, Wednesdays 6-7pm, Fridays 6-7pm

Children's Classes - Saturday 4-5pm

Couples Classes - TBA

Indian Dance Classes - Wednesday 7-8pm

Chinese Dance Classes (Peackocke Dance) - TBA