| Thursday, September 2, 2010 Vancouver Sales Statistics - August 2010by Wade Allen on Thu, Sep, 2, 2010 02:28 PM Categories: 1st time home buyers, Buyers, Financing, First Time Home Buyers, Interest Rates, Market Trends, Mortgage Rates, Real Estate, Sales, Statistics, Vancouver Real EstateNumber of Sales still low, Prices staying pretty strong
August in Vancouver saw pretty similar numbers to July, where the number of listings and sales were low in comparison to 2009. They were of course much stronger than 2008 when the sky was falling, and historically the number of sales in Vancouver West for August (516) is actually a pretty average August looking back 10 years.
Doom and gloom seems to be the flavour of the month so far, but it seems to be just headlines backed by loose data and theories that are doing nothing more than selling papers and not giving any real solution.
April 2010 was the "Peak" of the Vancouver market, with average sale prices across Greater Vancouver decreasing 2.8% since then. A typical Vancouver market always peaks in the spring, slumps in the summer (yaaeeeyy SUN!!!), picks up in the fall, and then dies in the winter months.
So why is this year any different? Because there's nothing else to report? Because any bad news is good news for fear mongering?
In a week this will all be old news because summer is over, people are back at it, the markets will pick up, and the September numbers will be strong. Comparing 2010 to 2009 or 2008 are a waste of time because the conditions were completely different. '08 was crash time, '09 was recovery time, and now we seem to be in a nice balanced market........but hey, that's not exciting enough to report.
Wednesday, June 9, 2010 Vancouver Real Estate Statistics - May 2010by Wade Allen on Wed, Jun, 9, 2010 01:13 PM Categories: 1st time home buyers, Buyers, Financing, First Time Home Buyers, Interest Rates, Market Trends, Mortgage Rates, Mortgages, New Developments, Real Estate, Sales, Statistics, Vancouver Real EstateMay market offers buyers greater selection
The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,156 in May 2010, a decline of 10.4 per cent compared to the 3,524 sales in May 2009; 5.1 per cent more than the 3,002 sales in May 2008; and 27.1 per cent less than the 4,331 sales in May 2007. May 2010 sales also represent a 10.1 per cent decline compared to last month’s sales.
In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.
New listings for detached, attached and apartment properties totalled.....CLICK TO READ MORE Monday, August 17, 2009 Understanding Your Credit Report and Credit Scoreby Wade Allen on Mon, Aug, 17, 2009 12:17 PM What many prospective borrowers don’t realize is that the pricing of mortgages and other loans is based in part on their credit-worthiness. Consumers need to be aware of how their credit is evaluated by lenders, and how they can work to avoid so-called “bruised credit” – people with a lower credit score can find themselves paying a higher interest rate, or even denied access to certain types of loans.
A credit report is a detailed history of how consistently you meet your financial obligations, and provides a picture of your financial health based on your past behaviour. A credit score is a three-digit number, usually between 300 and 900, representing your overall credit-worthiness, based on personal information from your credit report and other sources.
Both your credit report and score are important. When deciding whether or not to grant a mortgage loan, lenders refer to an applicant’s credit report and score, along with a range of other factors such as income, employment history, and size of down payment.
The higher your score the more likely you are to be approved for a mortgage and receive favourable rates because the lender considers you to be a better credit risk. Several factors are used by the two main credit agencies in Canada (Equifax Canada and TransUnion Canada) to calculate credit scores:
Originally Published by Cara Savege of Invis Mortgages |
|
Email