Crankworks Whistler BC 2008

THE CRYSTAL BALL
SPEAKITH
Wow… What a crazy time we have entered into. With stock markets crashing and house prices falling who knows where to go or what to do. It has seen some interesting times this last few weeks, to say the least.
I suppose that the good things to come of a global economic slowdown are the fact that commodities prices are dropping meaning that gas prices should follow. They are saying that gas is selling at the pumps in T.O. for under a buck. When will it be our turn?
Personally here at the good ship ReMax the three of us are preparing for the worse as housing prices continue to drop and buyers leave the market. Our advice to all is that unless you are sitting on cash this is not the time to be making any large purchases. Now is the time too watch your dept load and be careful with your spending. This market (stock and housing) needs another three to six months to figure out where it is going. Whether we like it or not we are affected by what is going on down in the States and for that reason we foresee more downturn ahead. On the other hand if you have cash and a stable job there are deals to be had. We just saw two brand new homes in PineView drop to 340,000 from 440,000 this is a troubled builder getting a reality check. There will be more to come, so keep in touch if you want listings that are dropping like a rock.

    

“Rising inventories are providing more choice for consumers and exerting less upward pressure on home prices,” said Cameron Muir, BCREA Chief Economist. Active MLS® residential listings in the province were up 37 per cent to 47,923 units in April. “The combination of a slower pace of home sales and some profit taking by investors is contributing to a balance between housing demand and the supply of homes for sale.” “While homebuyers now face less competition for the homes available for sale,” added Muir, “competition among home sellers means curb appeal, interior condition and prudent pricing are necessary for faster sale.” In the first four months of the year, MLS® residential sales volume in the province fell 1.8 per cent to $13.2 billion compared to the same period in 2007. Residential unit sales declined 13 per cent to 27,730 units, while the average MLS® residential price increased 13 per cent to $474,993.
                        Crew Notes
Angela: is working closely with the Humane Society of Kamloops in developing a referral kickback to them from each of hers sales… Way to Go Ang! The Capt:  An “A” list client, Tammy Leary & her husband Gord have started a care home (A Touch Of Home) for handicapped kids on the North Shore. Tammy, a nurse laid off from Ponderosa could really use a hand, Jim will be making an initial donation of 500.00 then 50.00 from each home sale will go to Tammy’s home. Christine: is finishing up her “100 Days To Success” course through ReMax… She is now in charge of keeping us all in line.

LINKS
Homes for sale: www.mls.ca
Buying a home: www.recbc.ca/pdf/buyinghome.pdf
Selling a home: www.recbc.ca/pdf/Sellinghome.pdf
Mortgage info & rates: www.canadamortgage.com

UPCOMING EVENTS

Nov/29/2008    Santa Parade  Please bring the kids, They can ride in the boat and drink hot chok… while we walk along and give out candy canes. Call us and let us know you are coming!