FSR REAL ESTATE NEWS

# 1909 668 CITADEL PARADE BV in Downtown West is Sold!

2012-02-01T18:49:00Z

Downtown West, Downtown - The single story at # 1909 668 CITADEL PARADE BV has been sold.

►►BUYING UP?◄◄

2012-01-24T19:26:00Z

Does buying up make sence? These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to most of the questions, it’s a sign that you may be ready to move.....

Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.
Has your income or financial situation improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.
Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a better school district.
Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option.
Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.
Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.
Are you able to afford a home if you buy with a suite in it? A suite can not only improve the saleability of a home, but it can often help you qualify for a hihger mortgage. Read more about this on our blog here: http://www.fullerservicerealty.com/blogs/donna__fuller/archive/2011/12/30/home-suite-home.aspx

If you have given the thumbs up to these questions, call us today to discuss your needs: 604.584.SOLD(7653) or go to our home page www.fullerservicerealty.com for further information! Email: info@fullerservicerealty.com

8 Reasons Why You Should Work With a REALTOR®

2012-01-24T16:04:00Z

"REALTOR®" and "real estate agent" are not interchangeable, although some real estate agents might like them to be. The term REALTOR® is a registered certification mark that identifies the quality of services rendered by licensed real estate agents who are members of The Canadian Real Estate Association (CREA). All real estate agents are not REALTORS®, but all REALTOR® members are real estate agents. REALTOR® members are committed to a strict code of ethics known as the REALTOR® Code, and are the only ones who have the right to list your property on the MLS® Systems of their local real estate boards. To correctly be referred to as a REALTOR®, a real estate agent must be a member of CREA.

.....why it pays to work with a REALTOR®.

Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.
Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
Someone who speaks the language. If you don’t know a C.M.A. from a P.I.T, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.
Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.
Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

BUYERS and SELLERS for more TIPS go to our Home page and click on Info TABS at: www.fullerservicerealty.com or call our professionals today 604.584.SOLD(7653)

TOP 26 GRANTS AND REBATES for Property Buyers and Owners

2012-01-24T01:07:00Z

1Home Buyers’ Plan Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time. Canada Revenue Agency www.cra.gc.ca Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287

2 GST Rebate on New Homes New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000. Canada Revenue Agency www.cra.gc.ca Enter ‘RC4028’ in the search box. 1.800.959.8287

3 BC New Housing Rebate (HST) Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7%) of the 12% HST paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250. www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate 1.800.959.8287

4 BC New Rental Housing Rebate (HST) - Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST,up to $26,250 per unit. www.hstinbc.ca/making_your_choice/faqs/new_housing_rebate 1.800.959.8287

5 BC Property Transfer Tax (PTT) First Time Home Buyers’ Program Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000. BC Ministry of Small Business and Revenue www.sbr.gov.bc.ca/business/Property_Taxes/Property_Transfer_Tax/ptt.htm 250.387.0604

6 First-Time Home Buyers’ Tax Credit (HBTC) This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% in 2010) x $5,000. For the 2010 tax year, the maximum credit is $750. Canada Revenue Agency www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncmtx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html 1.800.959.8281

7 BC Home Owner Grant Reduces property taxes for home owners with an assessed value of up to $1.285,000. The basic grant gives home owners

• a maximum reduction of $570 in property taxes on principal residences in the Capital, Greater Vancouver and Fraser Valley regional districts;

• an additional grant of $770 to rural homeowners elsewhere in the province; and

• an additional grant of $275 to seniors aged 65+, those who are permanently disabled and war veterans of certain wars. BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hog or contact your municipal tax

office.

8 BC Property Tax Deferment Programs

Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes.

Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.

Property Tax Deferment Program for Families with Children. Qualifying low income home owners who financially support children under age 18 may be eligible to defer property taxes.

BC Ministry of Small Business and Revenue www.sbr.gov.bc.ca/individuals/Property_Taxes/Property_Tax_Deferment/ptd.htm

9 Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants. This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and owners creating secondary and garden suites. www.cmhc-schl.gc.ca/en/co/prfinas/prfinas_001.cfm 1.800.668.2642 | 604.873.7408

10 CMHC Mortgage Loan Insurance Premium Refund Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient mortgage or make energy saving renovations. www.cmhc.ca/en/co/moloin/moloin_008.cfm#reno 604.731.5733

11 Energy Saving Mortgages Financial institutions offer a range of mortgages to home buyers and owners who make their homesmore energy efficient. Forexample, home owners who have a home energy audit within 90 days of receiving an RBC Energy Saver™ Mortgage, may qualify for a rebate of $300 to their RBC account. www.rbcroyalbank.com/products/mortgages/energy-saver-mortgage.html 1.800.769.2511

12 Low Interest Renovation Loans Financial institutions offer ‘green’ loans for home owners making energy efficient upgrades. Vancity’s Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for ‘green’ renovations. RBC’s Energy Saver loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fixed rate installment loan over $5,000. For information visit your financial institution. www.vancity.com/Loans/BrightIdeas and www.rbcroyalbank.com/products/personalloans/energy-saver-loan.html

13 LiveSmart BC: EfficiencyIncentive Program - Home owners improving the energy efficiency of their homes may qualify for cash incentives through this provincial program provided in partnership with FortisBC, BC Hydro, and FortisBC. Rebates are for energy efficient products which replace gas and oil furnaces, pumps, water heaters, wood stoves, insulation, windows, doors, skylights and more. The LiveSmart BC program also covers $150 of the cost of a home energy assessment, directly to the service provider. www.livesmartbc.ca/rebates 1.866.430.8765

14 BC Residential Energy Credit - Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST. www.sbr.gov.bc.ca/business/consumer_taxes/residential_energy/residential_energy.htm 1.877.388.4440

15 BC Hydro Appliance Rebates - Mail-in rebates for purchasers of ENERGY STAR clothes washers, refrigerators, dishwashers, or freezers. www.bchydro.com/rebates_savings/appliance_rebates.html 1.800.224.9376

16 BC Hydro Fridge Buy-Back Program This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in working condition. www.bchydro.com/rebates_savings/fridge_buy_back.html 604.881.4357

17 BC Hydro Windows Rebate Program - Pay no HST when you buy ENERGY STAR high-performance windows and doors. www.bchydro.com/rebates_savings/windows_offers/current_offers.htm 604.759.2759 for a free in-homeestimate.

18 BC Hydro Mail-in Rebates/Savings Coupons - To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone. Check for new offers and for deadlines. www.bchydro.com/rebates_savings/coupons.html 1.800.224.9376

19 FortisBC Rebate Program - A range of rebates for home owners include a $50 rebate for upgrading a hot water tank, $150 rebate on an Ener-Choice fireplace and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system. www.fortisbc.com/NaturalGas/Homes/Offers/Pages/default.aspx 1.888.224.2710

20 FortisBC Efficient Boiler Program - For commercial buildings, provides a cash rebate of up to 75% of the purchase price of an energy efficient boiler, fornew construction or retrofits. www.fortisbc.com/NaturalGas/Business/Offers/Pages/default.aspx 1.888.477.0777

21 City of Vancouver Solar Homes Pilot - This rebate of $3,000 (about 50% of the cost) is for a Vancouver home owner upgrading to a solar hot watersystem from a gas system. Offered by the City of Vancouver, SolarBC, FortisBC and Offsetters on a first come, first served basis until the City reaches its target of 30 homes. www.vancouver.ca/solar 604.871.6288

22 City of Vancouver Rain Barrel Subsidy Program - The City of Vancouver provides a subsidy of 50% of the cost of a rain barrel for Vancouver residents. With the subsidy, the rain barrel costs $75. Buy your rain barrel at the Transfer Station at 377 W. North Kent Ave., Vancouver, BC. Limit of two per resident. Bring proof of residency. http://vancouver.ca/engsvcs/watersewers/water/conservation/programs/rainbarrel.htm 604.736.2250 Other municipalities have similar offers.

23 City of Vancouver Greenest City 2020 Pilot Home Energy Loan Program - The City of Vancouver in cooperation with Vancity, FortisBC, BC Hydro and Natural Resources Canada offers access to loans for energy retrofits including heating systems, insulation and air sealing. Loans are at 4.5% fixed rate over 10 years. The program also helps with accessing grants from the federal ecoENERGY program, the provincial LiveSmart BC program and FortisBC. www.vancouver.ca/energyloan Email: energyloan@vancouver.ca. 604.374.0507.

24 Vancity Green Building Grant - In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for projects which focus on building renovations/ retrofits, regulatory changes that advance green building development, and education to increasethe use of practical green building strategies. www.vancity.com/MyCommunity/NotForProfit/Grants/ActingOnClimateChange/GreenBuildingGrant 604.877.7000

25 Local Government Water Conservation Incentives - Your municipality may provide grants and incentives to residents to help save water. For example, the City of Coquitlam offers residents a $100 rebate and the City of North Vancouver, District of North Vancouver, and District of West Vancouver offer a $50 rebate when residents install a low-flush toilet.Visit your municipality’s website and enter ‘toilet rebate’ to see if there is a program.

26 Local Government Water Meter Programs - Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. Delta, Richmond and Surrey have programs and other municipalities may soon follow. Visit your municipality’s website and enter ‘water meter’ to find out if there isa program.

BUYERS and SELLERS for more TIPS go to our Home page and click on TABS: www.fullerservicerealty.com

December 2011 Statistics Real Estate Board Greater Vancouver

2012-01-08T19:21:00Z

Balanced real estate market prevailed through much of 2011

Wednesday, January 4, 2012

VANCOUVER, BC – The 2011 Greater Vancouver housing market began with heightened demand in regional hot spots and concluded with greater balance between seller supply and buyer demand.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2011 reached 32,390, a 5.9 per cent increase from the 30,595 sales recorded in 2010, and a 9.2 per cent decrease from the 35,669 residential sales in 2009. Last year’s home sale total was 6.3 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

The number of residential properties listed for sale on the MLS® in Greater Vancouver increased 2.7 per cent in 2011 to
59,549 compared to the 58,009 properties listed in 2010. Looking back further, last year’s total represents a 12.8 per cent
increase compared to the 52,869 residential properties listed in 2009. Last year’s listing total was 11.1 per cent above the ten-year average for annual Multiple Listing Service® (MLS®) property listings in the region.

“It was a relatively balanced year for the real estate market in Greater Vancouver with listing totals slightly above historical
norms and sale numbers slightly below,” Rosario Setticasi, REBGV president said.

Residential property sales in Greater Vancouver totalled 1,658 in December 2011, a decrease of 12.7 per cent from the 1,899 sales recorded in December 2010 and a 29.7 per cent decline compared to November 2011 when 2,360 home sales occurred.

More broadly, last month’s residential sales represent a 34.1 per cent decrease over the 2,515 residential sales in December 2009, a 79.4 per cent increase compared to December 2008’s 924 sales, and a 12.6 per cent decrease compared to the 1,897 sales in December 2007.

The overall residential benchmark price, as calculated by the MLSLink Housing Price Index®, for Greater Vancouver
increased 7.6 per cent to $621,674 between Decembers 2010 and 2011. However, prices have decreased 1.5 per cent since hitting a peak of $630,921 in June 2011.

“Our market remained in a balanced state for most of the year, although higher levels of demand for detached properties in
the region’s largest communities caused prices in certain areas to rise higher than others,” Setticasi said. “For example, the benchmark price of a single-family detached home experienced double-digit increases in nine areas within the region over the last 12 months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,629 in December 2011. This
represents a 4.1 per cent decline compared to the 1,699 units listed in December 2010 and a 49.4 per cent decline compared to November 2011 when 3,222 properties were listed.

Sales of detached properties in December 2011 reached 630, a decrease of 18.1 per cent from the 769 detached sales recorded in December 2010, and a 30.2 per cent decrease from the 902 units sold in December 2009. The benchmark price for detached properties increased 11.2 per cent from December 2010 to $887,471.

Sales of apartment properties reached 774 in December 2011, a decline of 4.6 per cent compared to the 811 sales in
December 2010, and a decrease of 32.9 per cent compared to the 1,154 sales in December 2009. The benchmark price of an apartment property increased 3.7 per cent from December 2010 to $401,396.

Attached property sales in December 2011 totalled 254, a decline of 20.4 per cent compared to the 319 sales in December
2010, and a 44.7 per cent decrease from the 459 attached properties sold in December 2009. The benchmark price of an attached unit increased 4.2 per cent between December 2010 and 2011 to $511,499.

The real estate industry is a key economic driver in British Columbia. In 2010, 30,595 homes changed ownership in the Board's area, generating $1.28 billion in spin-off activity and 8,567 jobs. The total dollar value of residential sales transacted through the MLS® system in Greater Vancouver totalled $21 billion in 2010. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®.

For more information on real estate, statistics, and buying or selling a home, contact one of our professional REALTORS® info@fullerservicerealty.com or 604-584-SOLD(7653).

►►HOME SUITE HOME◄◄

2011-12-30T21:06:00Z

With the high costs of homes in BC, a new trend is arising. A secondary suite in your home is a good option and many manicipalities are agreeing to the idea with high density, affordability concerns and the demand for rentals. Many cities and municipailites throughout BC have started a secondary suite program including such cities as Kelowna, Coquitlam and Abbotsford for instance.

THE BENEFITS OF A SECONDARY SUITE:

1.) Private sleeping quarters with separate entrances and cooking facilites, allow families to coexist with senior generations while still maintaining their own “space.”
2.) It allows homeowners to offset their mortgage costs.
3.) It allows home buyers to often quailify for a higher priced home (especially if the suite is a legal one) as the lender will take the income from the suite into consideration for the qualifying process.

This recent trend seems to be moving towards more home builders creating brand-new homes from scratch with secondary suites in them or provisions for the unfinished basement to have a secondary suite. For example in the new Burke Mountain subdivision in Coquitlam secondary suites make up about 60 percent of their units. The builder/developers are now prepared to meet the growing demands of families who wants to remain together or buyers who know the only way they can afford to buy a home is to have rental income off the suite. A young couple for example could live in the smaller suite and rent out the majority of the home for top dollar. This would give the couple a similar affect of buying a 1 bedroom apartment or townhouse, but would allow them to reap the benefits of a home with higher appreciation over time than the condo captured on the resale.

In Summary, secondary suites are definately a key selling/buying feature to have in a home!.....

To SELL or BUY a home with a Suite in it, call the Professionals at FULLER SERVICE REALTY CORP. 604-584-SOLD(7653) info@fullerservicerealty.com

©Article by FSR Owner - Donna Fuller Dec. 2011

# 206 10523 UNIVERSITY DR in Surrey Central is NOW SOLD!

2011-12-30T20:53:00Z

Surrey Central, Surrey - The single story at # 206 10523 UNIVERSITY DR has been sold.

Property information

Merry Christmas to all from Fuller Service Realty!

2011-12-23T23:06:00Z

MERRY CHRISTMAS!, Joyeux Noël, Честита Коледа, 聖誕節同新年快樂, Sretan Božić!, Glædelig jul og godt nytår, Gleðilig Jól og eydnuríkt nýggjár
, Maligayang pasko at manigong bagong taon!, Frohe/Fröhliche Weihnachten, Καλά Χριστούγεννα!, メリークリスマス, 즐거운 성탄절 보내시고 새해 복 많이 받으세요, Feliz Natal, С Рождеством Христовым, ¡Feliz Navidad y próspero año nuevo!

Single Story For Rent/Lease in Downtown

2011-12-07T00:53:00Z

• 240 sq. ft. single story - MLS® $850 CAD Monthly

Downtown, Vancouver - Good location - Right across the street from the Law Courts, steps to Granville street businesses/restaurant. Corner of Smithe and Howe. 240 Sq. Ft. unfurnished and airconditioned.

FEATURES:
-Front desk concierge/reception
-Large furnished boardroom for owner/tenant use on same floor
-Kitchen and mens/ladies washrooms located on the same floor.
-2 public parkades closeby and street parking available (parking not included) close to buses and skytrain.
-high speed internet connection available in the building.

3-5 year lease required with escalation only to cover yearly strata fee and tax increase. Air conditioning, electrical, taxes & strata fee included. (does not include telephone and internet.)

Property information

November 2011 Statistics Real Estate Board Greater Vancouver

2011-12-06T18:46:00Z

November 2011 Statistics Real Estate Board Greater Vancouver

December 2, 2011

Historically normal activity keeps the Greater Vancouver housing market in a balanced state. The Greater Vancouver housing market saw relatively typical home sale and listing activity in November.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,360 in November. This represents a 5.9 per cent decline compared to the 2,509 sales in November 2010 and a 1.9 per cent increase compared to the 2,317 sales recorded in October 2011.

Looking back further, last month’s residential sales total is 5.8 per cent below the ten-year average for sales in November.

“The pace of home listings entering the market eased slightly in November, compared to recent months, while sale levels remained fairly normal for this time of year,” Rosario Setticasi, REBGV president said. “November activity helped put our market firmly in balanced territory.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 3,222 in November. This represents a 26.3 per cent decline compared to the 4,374 new listings reported in October 2011, but a 6.3 per cent increase compared to November 2010 when 3,030 properties were listed for sale on the MLS®.

Looking back further, last month’s new listing total is 2.1 per cent above the ten-year average for November.

The total number of properties currently listed for sale on the Greater Vancouver MLS® sits at 14,090, a decline of 9 per cent compared to October 2011 but an increase of 13 per cent when compared to this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.2 per cent to $622,087 in November 2011 from $580,080 in November 2010.

Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.4 per cent.

Sales of detached properties on the MLS® in November 2011 reached 916, a decrease of 12.8 per cent from the 1,050 detached sales recorded in November 2010, and a 21.3 per cent decrease from the 1,164 units sold in November 2009. The benchmark price for detached properties increased 11.4 per cent from November 2010 to $890,204.

Sales of apartment properties reached 1,000 in November 2011, a 4.9 per cent decrease compared to the 1,052 sales in November 2010, and a decrease of 28.4 per cent compared to the 1,396 sales in November 2009. The benchmark price of an apartment property increased 2.7 per cent from November 2010 to $399,686.

Attached property sales in November 2011 totalled 444, a 9.1 per cent increase compared to the 407 sales in November 2010, and a 15.1 per cent decrease from the 523 attached properties sold in November 2009. The benchmark price of an attached unit increased 4.5 per cent between November 2010 and 2011 to $510,000

BUYER'S AGENCY EXPLAINED

2011-12-06T18:35:00Z

BUYER'S AGENCY - WHY DO I NEED IT?

A buyer's agency, means the agent is working with your best interests (and wallet). A buyer's agent will work to negotiate the best price and terms, ensure the property is inspected, and make sure you have the representation you need to be protected. The things you tell a buyer's agent always remain confidential, buyer's agents cannot tell the seller what your bottom line is and in not doing so can often get the property for less than what you expected to pay. A buyer's agents commission is usually paid for by the seller - when a listing is taken the listing/seller's agent negotiates the total commission for both the buyers and sellers agent. Sometimes but rarer in some cases the buyers agents commission is paid for by the buyer. Using a buyer's agent also means that you can be shown homes that are For Sale By Owner.

Often Buyers sign an Exclusive Buyer's Agency agreement which will dictate how the arrangement works. Similar to a listing, it sets out how much the agent will be paid, what the length of term of the contract will be, what areas the buyer wishes to look in, etc. Many Buyer's agents will not work without one of these in place as without it they have no security as to whether or not they are going to get paid for all their hard work. Also it tells the Buyer's Agent whether or not the buyer's are motivated to buy. (Don't get me wrong, it doesn't mean you MUST buy if they don't find what you want, it merely means guaranteed wage if they do) If you look at it from a professional agents opinion, why would they want to take you seriously and put in all that time, effort and energy into searching for places if you don't want to commit to working solely with you them? Think about that for a moment.

ANOTHER MYTH

Often buyers believe if they go to the listing or sellers agent they will get a better deal as the agent earns more, this is a possibility but also a misconception. Many listing agents will not lower their fee out of principal as they have a higher liability to represent both sides and this is especially true in multiple offers. The listing agent may NOT now by our Professional Ethics Code lower their fee to make their offer stick over others, without going to the other agents involved and telling them, so that they all have an equal chance to compete. This rule was brought in to protect buyers agents of underhanded dealings by listing/seller's agents representing both sides.

DO I REALLY NEED TO USE A BUYERS AGENT?

No, but my best answer to this is why not? Why would you want to do all that work and search out properties on your own, calling every agent directly, telling the seller's agent all your confidential information and so on? A bit awkward, no? Best advise is sit back and relax, let your agent do his/her job. Also, it usually costs you nothing and the best part is you get representation and confidentiality. Think about this for a moment, you wouldn't go to court & give away all your cards to the other sides lawyer so why would you want to do otherwise in a realty transaction?

If you would like Buyer's Representation on a real estate deal, call or email us today 604-584-7653 or info@fullerservicerealty.com

Lions Win the 2011 Grey Cup!~

2011-11-28T07:37:00Z

❤¸.•*""*•.¸❤❤¸.•*""*•.¸❤❤¸.•*""*•.¸❤❤¸.•*""*•.¸❤❤¸.•*""*•.¸❤❤
CONGRATS BC LIONS WE ARE THE 2011 GREY CUP CHAMPIONS!

Sixth Grey Cup title for the Lions, first since 2006. The BC Lions are the 2011 Grey Cup Champions beating the Winnipeg Blue Bombers 34-23.

October 2011 Statistics Real Estate Board Greater Vancouver

2011-11-03T22:36:00Z

November 2, 2011

Greater Vancouver at lower end of balanced housing market

With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.

“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,374 in October, which is on par with the 10-year average. This represents an 18.3 per cent increase compared to October 2010, when 3,698 properties were listed for sale on the MLS®, and a 23 per cent decrease compared to the 5,680 new listings reported in September 2011.

The total number of properties listed for sale on the Greater Vancouver MLS® system currently sits at 15,377, which is 9.3 per cent higher than the 14,075 properties listed for sale during the same period last year. October was the first month that the total number of property listings showed a decrease this year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010. However, since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.3 per cent.

Sales of detached properties in October reached 974, which represents virtually no change from the 976 detached sales recorded in October 2010, and a 34.5 per cent decrease from the 1,487 units sold in

October 2009. The benchmark price for detached properties increased 11 per cent from October 2010 to $884,778, but decreased 1.3 per cent compared to the previous month.

Sales of apartment properties reached 958 in October, a 2.6 per cent decrease compared to the 984 sales in October 2010, and a decrease of 40.4 per cent compared to the 1,607 sales in October 2009. The benchmark price of an apartment property increased 3.2 per cent from October 2010 to $402,702, but decreased 0.7 per cent compared to the previous month.

Attached property sales in October totalled 382, a 1.3 per cent increase compared to the 377 sales in October 2010, and a 37.4 per cent decrease from the 610 attached properties sold in October 2009. The benchmark price of an attached unit increased 6.5 per cent between October 2010 and 2011 to $519,455, and increased half a per cent compared to the previous month.

Copyright© Real Estate Board of Greater Vancouver

Price Reduced on # 102 6904 FRASER ST in South Vancouver

2011-10-24T18:06:00Z

South Vancouver, Vancouver - Announcing a price reduction on # 102 6904 FRASER ST, a 1 bath, 1 bdrm single story. Now MLS® $222,000 - .

Property information

September 2011 Statistics Real Estate Board Greater Vancouver

2011-10-11T05:10:00Z

Home listings continue to rise in the Greater Vancouver housing market

Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.

“There's more competition amongst home sellers in today's market, providing more options for prospective buyers," Rosario Setticasi, REBGV president said."Buyers now have more properties to choose from and more time to make decisions compared to the spring season.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011.

The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year.

“Our sales-to-active-listing ratio currently sits at 14 per cent, which is the lowest it’s been this year. Generally analysts say that a buyer’s market takes shape when the ratio dips to about 12 to 14%, or lower, for a sustained period of time,” Setticasi said.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010.

Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent.

Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701.

Sales of apartment properties reached 922 in September 2011, a 5 per cent decrease compared to the 971 sales in September 2010, and a decrease of 38.1 per cent compared to the 1,489 sales in September 2009. The benchmark price of an apartment property increased 4.4 per cent from September 2010 to $405,569.

Attached property sales in September 2011 totalled 367, a 4.2 per cent decrease compared to the 383 sales in September 2010, and a 43.3 per cent decrease from the 647 attached properties sold in September 2009. The benchmark price of an attached unit increased 5.4 per cent between September 2010 and 2011 to $516,697.