Canadian Manufacturing Sales - September 19, 2017


Canadian manufacturing sales declined for a second consecutive month, falling 2.6 per cent in July. The dip in sales was largely due the motor vehicle and parts sector while sales were up in 12 of 21 manufacturing sub-sectors.
 

In BC, manufacturing sales decreased 1.6 per cent on a monthly basis but were up 7 per cent year-over-year. Year-to-date, BC manufacturing sales are up close to 8 per cent over 2016, led by strong contributions from a diverse range of industries from wood and paper products to food manufacturing to machinery and equipment. A strong trade and manufacturing sector is helping to propel employment and economic growth around the province, which further supports robust housing demand in BC.

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Please visit our Open House at 1897 CAMPBELL AVE in Port Coquitlam.
Open House on Sunday, September 10, 2017 2:00PM - 4:00PM
STUNNING MARY HILL SPLIT LEVEL. Located on quiet street in an excellent family neighbourhood & short walk to Kilmer French Immersion Schools. Backs onto green area. This immaculate 3 level home has been completely updated by professional contractors, no DIY here, home features large sunken elegant living with cozy fireplace. Spacious kitchen with eating area overlooking the large fenced back yard and the family room with gas fireplace. Up, you have 3 bedrooms, 2 with walk-in closets. Spacious master with 3-piece ensuite. Loads of storage cupboards in the laundry area and easy access 3-foot crawl space. Backyard is private with new deck, fencing and patio area. Open house Sept 2&3 Sat/Sun 2-4pm.
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Please visit our Open House at 42 8355 DELSOM WAY in Delta.
Open House on Saturday, September 9, 2017 1:30PM - 4:30PM
Spyglass at Sunstone Community built by Polygon. Lots of natural light in this very bright corner end unit that has great sunset views from deck and family room area. Unit has large fenced yard and is close to greenspace. Feels like living in a detached home. Largest plan in Spyglass features 4 bedrooms and 3.5 bathrooms and good parking for 4 vehicles. Gorgeous kitchen, granite counters, Pantry and built in desk area. 9' ceilings on main with new laminated floors, this unit is in tip-top as new condition. Fully finished garage, perfect for the car enthusiast, epoxy floor and lots of professional grade storage. 12000 sqft clubhouse with resort style amenities. Central location close to Richmond and Metro Vancouver. Priced to sell.
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Vancouver, BC – September 6, 2016.

 

The BCREA Commercial Leading Indicator (CLI) posted its largest increase since 2009, rising by 3.7 index points in the second quarter of 2017 to 133.1. That increase represents a 2.8 per cent rise over the first quarter and a 6.6 per cent increase from one year ago.

“The sustained rise in the CLI reflects strong growth in sectors of the economy beneficial to commercial real estate activity," says BCREA Economist Brendon Ogmundson. "An uptick in economic activity last quarter further reinforces the already strong trend in the CLI and points to continued growth for commercial real estate."

 

The underlying CLI trend, which smooths often noisy economic data, continues to push higher due to strong provincial economic and employment growth. That uptrend signals further growth in investment, leasing and other commercial real estate activity over the next two to four quarters.

 

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I have listed a new property at 1897 CAMPBELL AVE in Port Coquitlam.
STUNNING MARY HILL SPLIT LEVEL. Located on quiet street in an excellent family neighbourhood & short walk to Kilmer French Immersion Schools. Backs onto green area. This immaculate 3 level home has been completely updated by professional contractors, no DIY here, home features large sunken elegant living with cozy fireplace. Spacious kitchen with eating area overlooking the large fenced back yard and the family room with gas fireplace. Up, you have 3 bedrooms, 2 with walk-in closets. Spacious master with 3-piece ensuite. Loads of storage cupboards in the laundry area and easy access 3-foot crawl space. Backyard is private with new deck, fencing and patio area. Open house Sept 2&3 Sat/Sun 2-4pm.
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Please visit our Open House at 1897 CAMPBELL AVE in Port Coquitlam.
Open House on Saturday, September 2, 2017 2:00PM - 4:00PM
STUNNING MARY HILL SPLIT LEVEL. Located on quiet street in an excellent family neighbourhood & short walk to Kilmer French Immersion Schools. Backs onto green area. This immaculate 3 level home has been completely updated by professional contractors, no DIY here, home features large sunken elegant living with cozy fireplace. Spacious kitchen with eating area overlooking the large fenced back yard and the family room with gas fireplace. Up, you have 3 bedrooms, 2 with walk-in closets. Spacious master with 3-piece ensuite. Loads of storage cupboards in the laundry area and easy access 3-foot crawl space. Backyard is private with new deck, fencing and patio area. Open house Sept 2&3 Sat/Sun 2-4pm.
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Please visit our Open House at 1897 CAMPBELL AVE in Port Coquitlam.
Open House on Sunday, September 3, 2017 2:00PM - 4:00PM
STUNNING MARY HILL SPLIT LEVEL. Located on quiet street in an excellent family neighbourhood & short walk to Kilmer French Immersion Schools. Backs onto green area. This immaculate 3 level home has been completely updated by professional contractors, no DIY here, home features large sunken elegant living with cozy fireplace. Spacious kitchen with eating area overlooking the large fenced back yard and the family room with gas fireplace. Up, you have 3 bedrooms, 2 with walk-in closets. Spacious master with 3-piece ensuite. Loads of storage cupboards in the laundry area and easy access 3-foot crawl space. Backyard is private with new deck, fencing and patio area. Open house Sept 2&3 Sat/Sun 2-4pm.
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Please visit our Open House at 42 8355 DELSOM WAY in Delta.
Open House on Saturday, August 19, 2017 2:00PM - 4:00PM
Spyglass at Sunstone Community built by Polygon. Lots of natural light in this very bright corner end unit that has great sunset views from deck and family room area. Unit has large fenced yard and is close to greenspace. Feels like living in a detached home. Largest plan in Spyglass features 4 bedrooms and 3.5 bathrooms and good parking for 4 vehicles. Gorgeous kitchen, granite counters, Pantry and built in desk area. 9' ceilings on main with new laminated floors, this unit is in tip-top as new condition. Fully finished garage, perfect for the car enthusiast, epoxy floor and lots of professional grade storage. 12000 sqft clubhouse with resort style amenities. Central location close to Richmond and Metro Vancouver. Priced to sell.
Read Full Story
Please visit our Open House at 42 8355 DELSOM WAY in Delta.
Open House on Sunday, August 20, 2017 2:00PM - 4:00PM
Spyglass at Sunstone Community built by Polygon. Lots of natural light in this very bright corner end unit that has great sunset views from deck and family room area. Unit has large fenced yard and is close to greenspace. Feels like living in a detached home. Largest plan in Spyglass features 4 bedrooms and 3.5 bathrooms and good parking for 4 vehicles. Gorgeous kitchen, granite counters, Pantry and built in desk area. 9' ceilings on main with new laminated floors, this unit is in tip-top as new condition. Fully finished garage, perfect for the car enthusiast, epoxy floor and lots of professional grade storage. 12000 sqft clubhouse with resort style amenities. Central location close to Richmond and Metro Vancouver. Priced to sell.
Read Full Story
I have listed a new property at 42 8355 DELSOM WAY in Delta.
Spyglass at Sunstone Community built by Polygon. Lots of natural light in this very bright corner end unit that has great sunset views from deck and family room area. Unit has large fenced yard and is close to greenspace. Feels like living in a detached home. Largest plan in Spyglass features 4 bedrooms and 3.5 bathrooms and good parking for 4 vehicles. Gorgeous kitchen, granite counters, Pantry and built in desk area. 9' ceilings on main with new laminated floors, this unit is in tip-top as new condition. Fully finished garage, perfect for the car enthusiast, epoxy floor and lots of professional grade storage. 12000 sqft clubhouse with resort style amenities. Central location close to Richmond and Metro Vancouver. Priced to sell.
Read Full Story
Please visit our Open House at 42 8355 DELSOM WAY in Delta.
Open House on Saturday, August 12, 2017 2:00PM - 4:00PM
Spyglass at Sunstone Community built by Polygon. Lots of natural light in this very bright corner end unit that has great sunset views from deck and family room area. Unit has large fenced yard and is close to greenspace. Feels like living in a detached home. Largest plan in Spyglass features 4 bedrooms and 3.5 bathrooms and good parking for 4 vehicles. Gorgeous kitchen, granite counters, Pantry and built in desk area. 9' ceilings on main with new laminated floors, this unit is in tip-top as new condition. Fully finished garage, perfect for the car enthusiast, epoxy floor and lots of professional grade storage. 12000 sqft clubhouse with resort style amenities. Central location close to Richmond and Metro Vancouver. Priced to sell.
Read Full Story
Please visit our Open House at 42 8355 DELSOM WAY in Delta.
Open House on Sunday, August 13, 2017 2:00PM - 4:00PM
Spyglass at Sunstone Community built by Polygon. Lots of natural light in this very bright corner end unit that has great sunset views from deck and family room area. Unit has large fenced yard and is close to greenspace. Feels like living in a detached home. Largest plan in Spyglass features 4 bedrooms and 3.5 bathrooms and good parking for 4 vehicles. Gorgeous kitchen, granite counters, Pantry and built in desk area. 9' ceilings on main with new laminated floors, this unit is in tip-top as new condition. Fully finished garage, perfect for the car enthusiast, epoxy floor and lots of professional grade storage. 12000 sqft clubhouse with resort style amenities. Central location close to Richmond and Metro Vancouver. Priced to sell.
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Canadian Manufacturing Sales - July 19, 2017


A further sign of momentum in the Canadian economy this morning as Canadian manufacturing sales increased 1.1 per cent in May, the third consecutive monthly increase.  Overall, sales were higher in 16 of 21 manufacturing sub-sectors, reflecting broad-based strength in the Canadian economy.  Continued strong economic data will likely push the Bank of Canada closer to a second rate increase this fall.
 
In BC, manufacturing sales increased 1.8 per cent on a monthly basis and were up 8.2 per cent year-over-year. A strong manufacturing and trade sector has been a key contributor to economic growth in the province this year, which is on track to record a fourth consecutive year of 3 per cent or more growth in real GDP, the best performance for the provincial economy since 2007. 


After years of slow growth across Canada, it floors me that the Bank of Canada will increase to bank rate after a very modest economic increase. They want to slow down the economy that is just getting started after nearly 10 years of static growth. Makes no sense to me.


If you have a real estate related question, feel free to reach out. I'm here to help.

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SOUTH OF THE FRASER - While overall market activity slowed slightly in June, apartment sales reached record-breaking levels at 683 transactions for the month.

The Fraser Valley Real Estate Board processed 2,571 sales of all property types on its Multiple Listing Service® (MLS®) in June, a decrease of 10.2 per cent compared to the 2,864 sales in June of last year, and a 5 per cent decrease compared to the 2,707 sales in May 2017.

At 683 sales, apartment transactions represented 27 per cent of all sales activity in the Fraser Valley in June, increasing 13.1 per cent compared to apartment sales in June 2016 and 12.2 per cent compared to May 2017. The average number of days to sell an apartment in June was 15 days, compared to 32 at this time last year.

"We knew that there was a growing appetite for our attached properties, but this month was exceptional," said Gopal Sahota, Board President. “I think one reason demand has continued to be so strong for our region is that we have such diverse, robust inventory to help buyers find the right home even in a more complex market like this one.”

Last month the total active inventory for the Fraser Valley was 5,487 listings. Active inventory decreased by 2.2 per cent year-over-year, and increased 5.5 per cent when compared to May 2017.

The Board received 3,707 new listings in June, a 0.1 per cent increase from June 2016, and a 0.1 per cent decrease compared to May 2017’s 3,712 new listings.

Sahota added, "More and more buyers are looking for affordable entry points in to the Fraser Valley. No matter what you’re trying to sell – from townhomes to ranchers – if it’s priced right, someone will be knocking on your door.”


For the Fraser Valley region, the average number of days to sell a single family detached home in June 2017 was 21 days, compared to 17 days in June 2016.


HPI® Benchmark Price Activity

• Single Family Detached: At $934,600, the Benchmark price for a single family detached home in the Valley increased 2.1 per cent compared to May 2017, and increased 8.5 per cent compared to June 2016.

• Townhomes: At $467,000 the Benchmark price for a townhome in the Fraser Valley increased 1.8 per cent compared to May 2017, and increased 20.6 per cent compared to June 2016.

• Apartments: At $325,300, the Benchmark price for apartments/condos in the Fraser Valley increased 10.3 per cent compared to May 2017, and increased 40.3 per cent compared to June 2016.

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BCREA 2017 Second Quarter Housing Forecast


Vancouver, BC – June 19, 2017.

 

The British Columbia Real Estate Association (BCREA) released its 2017 Second Quarter Housing Forecast today.

Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 10 per cent to 101,000 units this year, after reaching a record 112,209 units in 2016. Housing demand gained strength this spring, as some of the effects of federal and provincial policy efforts to tamp it down dissipate. In addition, strong market fundamentals continue to underpin an elevated level of home sales. The ten-year average for MLS residential sales in the province is 84,700 units.

 

“The province is in its fourth year of above-trend economic growth," said Cameron Muir, BCREA Chief Economist. "Strong employment growth, consumer confidence and an influx of inter-provincial migrants are important drivers of the housing market this year." In addition, with the millennial generation now entering their household forming years, the condominium market in major urban centres is experiencing pressure on supply.

The average MLS® residential price in the province is forecast to decline 1.1 per cent to $683,500 this year, and increase 5.2 per cent to $719,100 in 2018. The decline in the provincial average price is largely due to rising demand for more affordable condominiums and a larger proportion of home sales occurring outside the Metro Vancouver region.

 

The prices are a reflection in the supply of homes for sale, that supply is at a 20-year low in the province, with sellers' market conditions prevelant across most BC regions and home types.


This coming October I  will be celebrating 27 years in real estate with even more years in construction practises. Looking for a new home or investment property? I will get the home or property you really want. My clients have called me innovative, insightful, diligent and direct. All of my clients enjoy my knowledge base, an advantage they won’t get from anyone else in the industry. I treat my clients like family, so they are well informed and comfortable moving forward, and are assured complete confidence tthat hey have made the right decision in their investment.

 

I'm never too busy for any of your referrals.

 

Your Realtor for Life

Brian

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US Federal Reserve Interest Rate Decision - June 14, 2017

The US Federal Reserve's Open Market Committee (the Fed) raised its target overnight rate this morning, the third such increase in the past six months. This morning's increase brings its the federal funds rate into a range of 1 to 1.25 per cent.

The Fed's statement accompanying the decision noted a continuation of a strong US labour market conditions despite a recent slowing of job growth. Household spending has picked up and the Fed expects the economy to expand at a moderate pace. While inflation remains below the Fed's 2 per cent target, it is expected to stabilize at 2 per cent over the medium term.

The Fed once again stated that it expects the US economy to evolve in a way that necessitates further but gradual increases to its overnight rate, which means there will likely be at least one more rate increase this year. A tightening cycle in the United States, combined with a shift in bias toward tightening at the Bank of Canada could put some upward pressure on Canadian interest rates in coming months, reversing the downtrend observed recently.

We will have to see how the Bank of Canada responds to this hike in the US. Canada usually follows because our economies are so linked, time will tell.
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I have sold a property at 1427 160A ST in Surrey.
This wonderful three bedroom rancher is located on quiet cul-de-sac on a large (8122 s.f.) west facing lot. This home has a white kitchen and beautiful bamboo floors. There is a large family room with French doors (or use as a dining room) opening to a large deck. Perfect home for a young family or as an investment property until you are ready to build your dream home. Great location within walking distance to South Meridian Elementary, close to shops, the bus or even walk to the beach!
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I have sold a property at 13040 14A AVE in Surrey.
5-bdrm / 4-ensuite, 3200-SF luxury Raymond Bontor-designed residence located on one of Ocean Park's most coveted streets close to shops, transit, Camp Kwomais park and steps to beach. Highlights include 2 gas fireplaces, custom wine room and bar, Brazilian cherry floors on main and new carpet upstairs. Spacious great room features gas fireplace and a generous custom island as well as top-end appliances including a built-in Ariston espresso / cappuccino maker. Large master bdrm boasts vaulted ceilings, walk-in closet and ensuite with dual sinks, soaker tub and shower. Private, park-like yard includes 2 private patio areas, a garden shed and large custom built storage shed to store seasonal furniture, bikes and more.
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I have listed a new property at 2339 10TH AVE W in Vancouver.
A modern Italian designed 2 bedroom home right on Connaught park. Home comes with a fully loaded kitchen: Euromobil Kitchen cabinets, Wolf Range, Liebherr fridge and separate freezer, built-in oven and floor to ceiling pantry. Radiant heated Italian tiles throughout the main level. High walk score- Stone throw to St. John's & Kits school, Steve Nash Gym, London Drugs, IGA and the list goes on. Bright, wide layout offers a generous space for a family with kids. Separate drive way. Fourplex non conforming strata offers the privacy of single home ownership with soundproof floors to very technical wall insulation. There is no monthly strata fee. Remaining warranty. All windows have blinds. *Pixilink measured 896 sqft. For your private viewing call.
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I have listed a new property at 1969 CREELMAN AVE in Vancouver.
Motivated seller! A rare chance to own in prestigious Kits Point. A lovely quiet, tree-lined residential street only 1 1/2 blocks from Kits Beach yet free from noise & traffic. Currently an investment property with 3 separate suites, 1 per floor, offering revenue potential of $6,000/mo or more. The 33' x 120' RT9 zoned (duplex) lot also presents an excellent building opportunity (house may be demolished). The current home features solid oak floors, coved ceilings, gas fireplace, decks, enclosed landscaped backyard & 2 car carport. The location is a dream: nestled near the water & spectacular views, 1 block from transit, shops & neighbourhood restaurants & downtown a short walk away. For a private viewing call.
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