10, 9, 8, ....

Understanding Easements

Before you purchase property you should know if there any easements on the property, where they are located and what restrictions are associated with them. An easement is a privilege acquired by a landowner for the benefit of their land over the land of another. It is the right to use another person's land for a stated purpose, An easement can be granted for any length of time. Here are three basic requirements to form an easement:

1) Two parcels of land must be affected.
2) The land must benefit, not just the landowner.
3) The boundaries must definable with some accuracy and there must be a granter and grantee.

A right-of-way is a type of easement that gives someone the right to travel across property owned by another person. An easement can benefit an individual or a business entity. Hydro, sewer and water are common examples of some right-of-ways. Another example of a right-of-way is if you decided to give your neighbour access to your private waterfront beach by allowing them exclusive use of a six foot strip of land down one side of your property.

Be aware that you cannot build a structure on an easement i.e. you would not be able to build a garage. Don't assume that because an easement is not currently being used that it will never be used. As long as an easement on title, there's always a possibility that the individual who benefits from it will decide to enforce it.

Happy Holidays!

Blanket Drive Warms Thousands

VANCOUVER, BC – From the Ladner seniors who fundraised to buy socks to students in Richmond and Langley, the 18th annual REALTORS Care® Blanket Drive collected blankets and warm clothing to help over 19,000 working poor and homeless people across the Lower Mainland.

Hundreds of real estate offices acted as drop-off locations during the November 26 - December 3 event. REALTORS® picked up, sorted and delivered thousands of donations to over three-dozen charities from Whistler to Hope.

The Squamish Helping Hands Society organizes a variety of shelter and food programs to assist those in need and is a recipient charity of the Blanket Drive
“The blanket and clothing donations we get not only help our clients, the act of giving itself recognizes a much deeper understanding of the human need there is in our communities and how important it is for us to take care of each other,” said Maureen Mackell, executive director.

That sentiment was echoed by Andy Kwak, executive director of The Salvation Army Centre of Hope in Abbotsford.

“Our mission is to bring warmth, nutrition and shelter to those who need it, so you can imagine how helpful hundreds of bags of clothing and blankets are to the people we serve. We really appreciate the effort that REALTORS® put into this drive and their support throughout the entire year."

Since 1994, the Blanket Drive has grown to become the largest collection of its kind in the Lower Mainland assisting over 205,000 people over those years. Donations come from REALTORS®, their clients, the general public, corporations, retailers, community groups and schools. Everyone works together to make the Blanket Drive a success.

Although the Blanket Drive is finished, the need still remains.

Please donate the following to your local charity :

New or gently used

• blankets, sleeping bags
• warm clothing - coats, jeans, pants, sweaters
• scarves, gloves, mitts, hats
• socks (new)
• underwear (new)

source REBGV

Fraser Valley REALTORS® donate $20,000 to Abbotsford’s Holmberg House

The Fraser Valley Real Estate Board (FVREB) has gifted $20,000 to the Abbotsford Hospice Society’s (AHS) new adult hospice. The contribution will go towards the creation of a water feature in the future garden of Holmberg House set to break ground in January, 2013.


Scott Olson, President of the FVREB, explains, “REALTORS® devote themselves to helping people find the perfect home. Holmberg House will be exactly that. As the final home for so many special people, we wanted to help make it feel as welcoming and comforting as possible.”
The feature, designed specifically for the grounds of Holmberg House, is a waterfall flowing into a pebble stream surrounded by garden foliage. The building itself will be the only hospice in Abbotsford to provide holistic care in a non-institutional setting with patient suites large enough to accommodate visiting family and friends.

The 10-bed facility will care for patients as young as 19 facing terminal illness. AHS requires 12 million dollars for the capital costs and is currently halfway to meeting its goal. Debbie Lehmann is the Executive Director. “We are absolutely thrilled with this donation and in particular the intent behind it.
“The Board members put a lot of thought into how to make the donation special for our residents and meaningful for the REALTORS® of Fraser Valley who made it possible. We’re sure the water feature will be a favourite place for relaxation and reflection for everyone the hospice serves.

The FVREB is an association of 2,855 professionals serving the real estate needs of the communities of North Delta, Surrey, White Rock, Langley, Abbotsford and Mission. For more information, go to www.fvreb.bc.ca.

For over 25 years, the AHS has helped the terminally ill in the Abbotsford region while also providing bereavement support for families, along with public education, outreach and community referrals. For more information, go to www.abbotsfordhospice.org.

Business For Sale Pizza / Greek Restaurant

Small Greek and Italian restaurant offering affordable lunch and dinner in Morgan Creek. Delivery. Offer deli items such as tzaziki, hummus, and pita, as well as gelato and sorbetto! Outdoor seating. more pics here: http://www.powerhouseagents.ca/Surrey/British_Columbia/Commercial_Real_Estate/Morgan_Creek/Agent/Listing_70931141.html

B.C. a world leader in adoption of holiday LED lights

Power Smart's push has paid off — have you made the switch?

Great tips from BC Hydro!

Changing our holiday lighting may not exactly change the world, but there's no doubt that shifting from traditional incandescent holiday light strings to LED options makes a big difference in conservation.
Seasonal ENERGY STAR® LEDs are the most energy efficient choice possible, as they use up to 90% less energy than your traditional strings.
Over the past few years, homeowners and retailers, institutions and large businesses across the province have made the shift from incandescent to LED holiday lights. Power Smart's push has made B.C. a world leader in the adoption of this energy-efficient option.
That adds up. Consider the conversion done by the Vancouver Park Board on a stand of large trees overlooking English Bay. Shifting to 12,750 LED lights reduced the display's total holiday consumption from 20,400 to just 2,650 kilowatt-hours. That's enough electricity for one and a half B.C. homes for a whole year.
At home, if you replace six strands of incandescent lights with LEDs, and operate them six hours a day for the month of December, you would save $23 in holiday lights. (The LEDs would use just 28 cents in electricity for the whole month!) Plus, LEDs last up to 10 times as long, and have no filaments, so they're harder to break. And since they produce almost no heat, they reduce the risk of fire.
If you want to save electricity on your holiday lighting this year, consider the following:

• Add a timer to ensure your holiday lights are turned off when you don't need them on.
• Reduce areas of lighting that aren't needed.
• If you're using incandescents, consider recycling them at the end of this season. Then get ready for next year by scooping up some savings: buy next year's ENERGY STAR LED light strings when they go on sale after the holidays.
• If you're already using ENERGY STAR LED light strings, congratulations.You're helping change the world, one energy-efficient bulb at a time.

How to recycle your old holiday lights

You can recycle your old incandescent bulbs (and older LEDs that need replacement) at LightRecycle locations across B.C.

sources:  http://www.bchydro.com/news/conservation/2012/seasonal-energy-star-leds.html?WT.mc_id=c-12-12_led

RRSP Mortgages

This issue deals with using an RRSP as a mortgage lender. With interest rates on conventional bank deposits very low, using your RRSP to lend money on a mortgage to a third party or even yourself can be a way of getting a better investment return. Your RRSP has to a self directed one, and your RRSP administrator has to be able to handle mortgages in your RRSP. As well the applicable regulations have to be followed.


You can be your own mortgage lender. If you have enough cash in your RRSP, your RRSP could lend you the money on a first mortgage and your monthly payments could then be made to your RRSP instead of the bank. In such a case the mortgage has to be insured through CMHC or another mortgage insurer. If you don’t have enough money in your RRSP for the entire mortgage you might want to approach a friend who has money in their RRSP or even your bank to do a joint first mortgage with you, i.e. they lend part of the money and your RRSP lends the rest. Many years ago my wife and I did that with our bank. Of course there has to be appropriate mortgage administration agreement between the parties which deals with the ownership of the mortgage, how the payments are divided, etc. It is important to remember that even though you are your own lender, the mortgage administrator will treat it as an arm’s length mortgage. That means you can’t default just because it is your own money. The administrator is legally obligated to enforce the mortgage.

You can also have your RRSP lend on a second mortgage. The rules are less stringent as the mortgage does not have to be insured. I have a client who has done that on a few occasions and is getting a 12- 18% return on his money. Again you have to check the permissible investments under your self-directed RRSP as well as any applicable charges from your administrator.

Laundromat , Internet cafe, deli for Sale

3 in 1 business ; coin laundry, Internet cafe, and deli. Long established self serve coin laundry lounge in North Delta shopping plaza. Corner of Scott Road/ Nordel Way. 24 washers/13 dryers. Internet stations.

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Business For Sale - Latin Grocery

Latin Grocery Store located on King George Blvd. Great Location in retail, office complex. Large, bright and open space. Nice leasehld imprvements. Turnkey! Excellent exposure and drive-by traffic. Local area consists of high population counts and many amenities. more info and pics here: http://www.powerhouseagents.ca/Surrey/British_Columbia/Commercial_Real_Estate/Bear_Creek/Agent/Listing_69012255.html

7 steps to retexturing drywall

By Paul Bianchina
Inman News®

Share This

November 27, 2012

It's a pretty common scenario on the home improvement scene: You've removed some wallpaper or wainscoting, or you've relocated a door or a window, or maybe you've just repaired same drywall damage caused by one of life's little mishaps. No matter the origin, you end up with some drywall that doesn't have any texture on it. And now, you're at a loss as to exactly how you're going to get that flat, unadorned piece of drywall to blend in with the texture on the rest of the wall that's surrounding it.
In truth, matching drywall texture is always a tricky process unless you're experienced at it. Even the pros can have a tough time with it. You first have the issue of matching the existing texture for the main body of the patch, and then feathering the new texture out onto the old in ever-decreasing amounts so that the transition between new and old is seamless. It's difficult to come up a perfect match, and the larger the area is and the more centered it is on the wall or ceiling, the more likely it is that you're going to see it.
The other problem you're likely to run into is what's known as "flashing." After the patch is done and painted, the new texture will tend to absorb paint differently than the old texture, due to differences in previous paint, materials and other factors. The result can be a difference in sheen that also contributes to the patched area standing out from the rest of the wall, even if the texture matches. And the more sheen the new paint has -- satin or semigloss as opposed to flat, for example -- the worse the problem can be.
Start fresh
For all those reasons, especially if you're not an experienced drywall texture matcher, your best bet is to simply start over with a fresh, flat wall. That doesn't mean that you need to tear off all the drywall and replace it. It just means that you want to get rid of the old texture.
Tarp the floor in front of the wall with plastic sheeting. Don't use canvas painter's tarps, as the dust is hard to get back out of them. Wear a respirator to prevent breathing in the dust from the sanding and scraping operations, and always wear eye protection.
Sand or scrape the old texture on the wall to remove the majority of it. You don't need to get rid of all of it -- in fact, you want to be careful not to sand too deep and cut into the paper cover on the drywall. What you're looking to do is knock down all of the high spots. Brush the wall down with a dry paintbrush or soft broom to get the bulk of the dust off it. Roll up the plastic sheeting to contain all the dust and dispose of the plastic, then put down new sheeting for the next operation.
The next step is to apply a light skim coat of drywall joint compound over the entire wall. You can use all-purpose compound for this, but topping compound will go on smoother and sand easier. For best results, thin the joint compound with a little water first to give it a smoother, creamier consistency that will allow it to trowel on easier. Use a 12-inch or larger drywall knife, and spread it onto the wall in broad strokes. The goal is to apply a thin, uniform coat over the entire wall, with as few ridges from the trowel as possible. Some ridges are going to be inevitable, and don't worry about them -- they'll sand off later. But the fewer the better, since that'll save you some sanding labor.
Allow the compound to dry completely. It will become lighter as it dries -- how long it takes depends on temperature, humidity, and the thickness of the coat -- but be sure that the entire wall is completely dry before proceeding. Next, sand the wall again lightly to remove any ridges, and then check your work. Use additional compound to fill in any low spots or flaws, allow the additional compound to dry, then lightly sand again. Thoroughly brush the wall down again, and you now have a smooth, uniform surface to work with, eliminating the need to try to match textures.
You'll now want to seal the wall, using a drywall sealer or other primer. This will help to prevent uneven absorption of the paint. After the primer is dry, apply the texture of your choice to the entire wall. When the texture is dry, prime everything a second time, which will seal the texture itself. This step is especially important if you're using satin or semigloss paint. If you'll be painting the wall with a dark color, have your paint store tint the primer for you, which will give you a more uniform finish color. Finally, paint the wall.

RE/MAX Housing Outlook 2013

Moderation—not correction—on tap for Canadian housing markets in 2013, says RE/MAX

Kelowna, BC (November 14, 2012) – Canadian real estate markets demonstrated remarkable resilience in 2012—with home sales up or on par in 65 per cent of major centres—despite considerable headwinds in terms of tighter financing and economic uncertainty abroad. The trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013, according to a report released today by RE/MAX.
The RE/MAX Housing Market Outlook 2013 examined trends and developments in 26 major markets across the country. The report found that the number of homes sold is expected to match or exceed 2011 levels in 65 per cent of markets (17/26) in 2012, led by strong activity in Western Canada, including Calgary (up 13.5 per cent) and Regina (eight per cent). Eighty-one per cent (21/26) of markets are set to experience average price increases by year-end 2012, with Regina the country’s frontrunner at eight per cent, followed by Hamilton-Burlington, Greater Toronto, and Fredericton at seven per cent and Saskatoon at 6.5 per cent. The forecast for 2013 shows the upward trend moderating, but values still ahead of 2012 levels in 85 per cent (22/26) of centres. Stability is forecast to characterize Canadian real estate in the new year, with sales above or on par with 2012 levels in 81 per cent (21/26) of markets.
Nationally, an estimated 454,000 homes will change hands in 2012, falling one per cent short of the 2011 level of 456,749. Canadian home sales are expected to almost mirror the 2012 performance next year, holding steady at 454,000 units. The average price of a Canadian home is expected to remain stable at $364,000 in 2012—on par with the figure reported in 2011. Values are expected to appreciate nominally in 2013, rising to $366,500, one per cent above year-end 2012 levels.
“Looking forward, there are a number of factors on the horizon that will serve to bolster residential activity in 2013,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Canada’s economic performance is expected to show signs of improvement, particularly in the latter half of the year, which should bode well for housing markets across the country. Historically low interest rates will also continue to drive healthy home-buying activity, especially in the move-up segment. Last, but certainly not least, there’s no denying the universal appeal of bricks and mortar. Canadians believe in homeownership. The stability of real estate over the long-term continues to fuel its appeal.”
The report found that low interest rates were a major impetus in 2012, fuelling sales of homes across the board. Tight inventory levels also factored into the equation early in the year, causing a flurry of activity in many centres. By mid-year, however, the third round of CMHC mortgage tightening had a noticeable impact on housing markets, pushing homeownership beyond the grasp of many first-time buyers.
The RE/MAX Housing Market Outlook Report also identified several regional disparities. Most notable was the pull back in sales activity in Greater Vancouver. A banner 2011 year and a slowdown in investor activity contributed to the trend in 2012. Yet, moderation was more widespread in the east, with half of Ontario and Atlantic Canada markets (8/16) reporting 2012 sales off the 2011 pace. Strength was evident throughout Saskatchewan, Alberta, and Nova Scotia, where exceptionally sound economic fundamentals drove demand. The Prairies also stood out in price appreciation, along with the Atlantic Provinces in 2012, and a repeat is on tap for next year. In 2013, Vancouver will rebound to post the strongest sales gain, while the Quebec markets post the sharpest decrease.
“Despite all the negativity surrounding residential real estate, the sky is not falling,” says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Home sales have moderated, but remain within healthy levels. Greater optimism is expected to return next year, as the economy marks further improvement. Canadians appear to be reigning in their spending, heeding cautionary statements by the country’s financial leaders. We believe that will only serve to shore up the already healthy framework of the Canadian housing market in 2013.”
While first-time buyers will continue to have a significant presence in the overall marketplace, they are expected to take a back seat in 2013 in Canada’s largest markets—with move-up buyers the new engine driving home-buying activity. The greatest advance in home sales is expected in Vancouver (12 per cent), Calgary (10 per cent), Halifax (five per cent), Kingston (4.5 per cent) and Saint John (four per cent). The strongest upward momentum in average price in 2013 is forecast for St. John’s (six per cent), Regina (five per cent), Kingston (4.5 per cent), and Halifax (four per cent), followed by Fredericton and Winnipeg at three per cent. More balanced market conditions are expected in 2013 throughout the majority of markets, with supply meeting demand.
“The long-term outlook for Canadian real estate remains strong,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “It has proven so in the past, and it will ring true in the years to come. Canada’s major centres are evolving at a tremendous pace and gaining traction on the world stage. As we look forward, our communities will certainly be more vibrant, more sustainable, while our housing mix focuses on density and diversification. The sheer number of developments planned or underway is staggering. We know the market ebbs and flows—that’s cyclical—but the future for real estate remains quite promising.”
Immigration and population growth will continue to support housing demand moving forward. The Canadian government’s commitment to immigration will hold steady, with the country set to welcome as many as 265,000 immigrants in 2013. The greater focus on economic immigrants is already leading to quicker household formation and homeownership than in years past. These two factors will also support the burgeoning condominium segment—along with Canada’s aging population—while the desire for tangible assets props up the upper-end.

RE/MAX is Canada’s leading real estate organization with over 19,900 sales associates situated throughout its more than 748 independently-owned and operated offices in Canada. The RE/MAX network, now in its 39th year, is a global real estate system operating in 91 countries, with over 6,330 independently-owned offices and 88,983 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.

Cupcake Cafe - Business For Sale

Premium cupcake cafe that offers at least 15 different flavours of cupcakes a day! Family runned business. Storefront plus fully finished party room, which can accomodate 16 party guests. Cupcakes made daily. Also specialize in cakes, mini cupcakes, cake pops and fudge. Serve coffee and tea as well as a selection of cold beverages. Also a retail section in store, where you will find many cupcake themed novelties. Wonderful leasehld improvements, great location. Turnkey. DO NOT APPROACH STAFF OR STORE.

pics and info here : http://donmortimore.point2agent.com/Listing/ViewListingDetailsAuthenticated.aspx?ListingID=69280165&Preview=False&LastTabIndex=0&BackEmailID=-1&BackEmailTypeID=NONE

Cut down your bills and chill with these great tips!

Utility costs are rising quicker than most people’s incomes so it pays now more than ever to pump up your home's energy efficiency.  The good news is that you don't need to spend that much in order to reduce your bills.

Start by using a "smart" thermostat for heating and cooling.  An adjustment of just a few degrees can produce major savings!  Don't forget to lower the thermostat on your water heater or better yet, buy an "on demand" system that only heats water when needed.

Landscaping is a naturally beautiful way to keep your home comfortable while decreasing your energy bills.  A few strategically placed trees or shrubs can save a fortune on heating and cooling as they provide shelter from the winter winds and shade in the summer.  Here are a few other ideas that will reduce your energy use:

• switch from incandescent bulbs to compact fluorescents
• use ceiling fans to save money on both heating and cooling
• service your air conditioner and furnace every year to maintain efficiency
• make sure your home's properly insulated and seal up any air leaks with foam
• use a front loading washing machine and clean your dryer’s lint tray after each use

Higher energy bills are a harsh reality for the rising number of people who work from home.  To help minimize this expense, set up the sleep option so your computer automatically powers down when not in use and shut it off completely at the end of the day.  You can also cut costs by positioning your desk to take advantage of natural light.

It doesn’t take that much work to implement energy saving solutions around the home but often times, it's the simple things that are usually overlooked.  Make it your goal this year to take action!  It’s important to do what we can not only to save money but also to help conserve the environment.

Positive signs for Fraser Valley housing market

The Fraser Valley Real Estate Board (FVREB) processed 1,053 sales on its Multiple Listing Service® (MLS®) in October, a decrease of 8 per cent compared to the 1,139 sales during October last year however a 23 per cent increase compared to September.

Scott Olson is the president of the board.  “This is a marked improvement over September. Our sales increased at the same time as our inventory dropped improving our supply-demand conditions.

“Although we remain in a buyer’s market, it moves us in the direction we want to go, which is closer to balance.”

The number of new listings posted on the MLS® in October was on par with the same month last year and a decrease of 1 per cent compared to September with the result that the volume of active listings in Fraser Valley at the end of October remained unchanged compared to 2011 and 3 per cent fewer than in September.

Benchmark prices for residential property types are showing month-over-month decreases however, depending on the property type, still show positive gains year-over-year. 

The benchmark price of a detached home in the Fraser Valley in October was $546,900, an increase of 2.5 per cent compared to October 2011, when it was $533,800; and a 0.5 per cent decrease compared to September when it was $549,500.

The benchmark price of townhouses decreased 2.2 per cent going from $303,900 in October 2011 to $297,100 last month. The benchmark price of apartments increased year-over-year by 2.9 per cent, going from $198,100 in October of last year to $203,900 in October 2012. 

“Over the last three months we’ve seen the impact of lower sales and higher selection on prices of typical homes in our region. In most communities and for most property types, prices have slowly decreased in small increments month-over-month.

“This has had resulted in buyers having more time to make a decision and sellers working diligently with their REALTOR® to understand the market and set their prices accordingly. What’s happened in October is good news for both. Greater stability is always positive.”

Economists at the British Columbia Real Estate Association have predicted sales in the Fraser Valley will rebound by 6 per cent in 2013 compared to 2012 while prices will remain flat.

Source FVREB

Happy Halloween!

RE-POSSESSED!
Haunted House For Sale
Buyer Be Aware

Inquire within.

Surreal Estate, Inc.
Ima Gool, Agent 

Halloween Safety Tips

Trick or Treat! Halloween Apples! Check out these great trick or treating tips to keep your Halloween safe!

COSTUMES:

-Make sure to choose costumes that fit correctly so your little ones won't trip and fall. Long dresses or capes that drag on the floor may be cute, but not if your child ends up falling down. If using a mask, take care to check and see that your child can see and breathe properly. Face painting is a great alternative if you can't find a mask that fits well — just be sure to use washable, non-toxic paint or makeup that is safe for skin.

-Make sure your children's costumes has reflective tape to make their costumes visible in the dark. Also carry flashlights or glow sticks for more visibility to passing cars.


-Choose Halloween costumes that are labeled "flame-resistant" in case of accidental contact with an open flame.

-Wear comfortable shoes that fit properly

-Only carry flexible props that wont hurt a child if they were to fall or accidentally hit another person with it

Safe trick-or-treating

- Make sure that a responsible adult accompanies your children when they are out trick-or-treating.

-Plan your trick-or-treating route ahead of time so that you can check out the neighborhoods to make sure they are safe and well-lit. Only visit homes of people you know or homes with a porch light.

-If you are letting older tween or teens trick-or-treat in a group, make sure they are accompanied by an older, responsible teenager that you know and trust. Discuss the route they will follow ahead of time and set a curfew.

- Trick or treaters should walk, not run, and should never cut across lawns or driveways. Obstacles could exist that aren't readily visible in the evening.

-Make sure to remind your children not to go inside the homes or cars of anyone they meet. Talk about how they always need to stay together as a group.

-Never allow children to eat candy before it is inspected. Any opened candy should be thrown away, and unless you personally the families who make homemade goodies, it is recommended that you dispose of homemade treats. Immediately toss any items that are suspect in any way, and get rid of (either through donation or throwing away) any treats that your kid doesn't like. Some parents also put away some candy and save for later or set rules allowing kids to eat all they want for a designated period, then dispose of the rest.

Halloween alternatives

Trick-or-treating in your neighborhood isn't the only fun Halloween activity! Check your local paper for other safe and exciting Halloween alternatives in your community.

-Spook yourself silly by having a Halloween party in your own home. Carve pumpkins, have costume contests, serve creepy treats and play frighteningly fun Halloween games.

-Go trick-or-treating at the mall, zoo, museum or other safe location. Many businesses go all out throwing exciting Halloween events for families. Check their websites and discover all the spooky fun available in your city this Halloween.

Business For Sale! West End Pizza Shop

Independently owned and franchise operated pizza business focusing on organic quality ingredients, real mozzarella cheese and late night deliveries. Super location!!!!!




Offers Homemade Organic Whole Wheat or Organic White Crust Pizza and Gluten-Free Pizza made with Honey!!! Gourmet pizzas in both THICK or THIN crust.

http://donmortimore.point2agent.com/Listing/ViewListingDetails.aspx?listingid=68319993#.UJADj6QYyH0

Buyers take ‘wait and see’ approach for single family homes; condos holding their own

For the second month in a row, property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) have decreased to historically low levels.  In September, a total of 857 sales were processed on the MLS®, a decrease of 26 per cent compared to 1,165 sales in September 2011 and 20 per cent fewer than in August.

Scott Olson is the president of the Board. “Our market was very stable up until July and then within two months it changed.

“The federal government’s tightening of mortgage rules this past spring may be having an effect. We’ve seen this pattern before when rules have changed and hopefully given the strength of our local economy and stability of interest rates, this slowdown will be short term.”
Olson adds that properties offering more affordability remain in demand. “Sales of more expensive homes – single family detached – have decreased disproportionately more than the sales of townhomes and apartments. In fact, apartment sales last month in Surrey, Langley and White Rock were higher or comparable to September of last year keeping prices across the Fraser Valley resilient.”
Over the last three months, prices for all three residential property types combined have decreased by 0.4 per cent while year over year they’ve increased by 2.1 per cent.  For single family detached homes, the benchmark price increased by 3 per cent in one year, going from $533,400 in September 2011 to $549,500 last month. 

For townhouses, the benchmark price in September was $300,500, a decrease of 1.7 per cent compared to $305,700 during the same month last year. The benchmark price of apartments in Fraser Valley in September was $207,000, an increase of 4.1 per cent compared to $198,800 in September 2011.

Last month, the Board received 4 per cent fewer listings than it did one year ago, 2,544 in September 2012 compared to the 2,651 in September 2011. The number of active listings finished at 10,348 in September, 2 per cent higher than the same month last year, yet on par with the number available on the market in August.

It took four days longer on average to sell a detached home last month compared to September 2011 – 49 days compared to 45. Townhouses sold in an average of 57 days in September compared to 52 last year and last month, apartments took 69.5 days on average to sell compared to 63 during September of last year.

Source October, 02 2012 09:54:26 am, by FVREB

Investing in Rental Property: Five Steps for Success

 Have you ever considered purchasing a rental property? Rental properties can be great investments, done right. In addition to realizing gains from property value appreciation, rental income can provide a monthly cash flow. Once the mortgage is paid off, much of your rental income will be profit, allowing you to work or to enjoy retirement.
Unlike your home, this investment isn't something that you will be personally using day-to-day, so the benefits of ownership differ. Rental property is a tangible asset you can visit, use, and personally impact the worth of your investment. With sound judgment, and by following some basic steps, you can own property and realize gains; both short and long term.

Purchase with a Plan

Investing in real estate differs depending on the type and location of the property you are buying. Will you want to use the property part of the year? Vacation rentals are enticing on many levels, though considering how you will use them during less desirable periods may affect your potential rental income. Purchasing a residence has different implications than a property that will be rented commercially. Some investors buy properties with multiple units so they can have rental income from one or more units while fixing up and/or living in remaining units. Properties with multiple units have more to consider and maintain than properties that will be rented by a single person or entity. Knowing the type of landlord you intend to be will provide some focus as you consider properties. It will also provide valuable knowledge for your realtor helping with your search.
Being pre-approved for an investment loan and ensuring that your own finances are in order is not only wise, but will make it clear if you have enough capital to proceed. When taking on another mortgage, remember - you will want to have a healthy reserve fund in the event that the property produces less income than expected. Before you look at properties, sit down with a mortgage broker or lender to see how you qualify for a loan.
Research the local rental market so you know what you can realistically expect to charge and better understand the potential cash-flow of potential rental property.

Understand Your Investment

It is important to understand the condition of the building and surrounding property you intend to buy. Unless you are particularly knowledgeable about construction, always make offers for purchase contingent upon professional inspections.
  Knowing the exact condition of the roof and foundation, plumbing and electrical, floors, appliances and other aspects of the property provides a much better sense of what you will need to repair, maintain, or upgrade for your tenants. In turn, this allows you to better understand the "bottom line" of your investment. After all, you are not likely to be present on a day-to-day basis to take note of any issues that arise. As the owner you have a vested interest in ensuring that the investment stays in good condition. You should have a budget for repairs and maintenance, and ensure that the purchase price enables you to make any necessary upgrades you might need to make prior to renting it to a tenant.
Additionally, you will want to know about locale, including parking and security issues and the zoning regulations that govern the property, including any multiple occupancy limitations and any restrictions on specific business activities. Your understanding of specific property, how it might be used, and the limitations you face when renting it out make you a better investor.

Evaluate Your Options

As you look at properties, consider your options - you have many. From location and style of building to type of rental and the number of units, each decision you consider will open new doors. Is this a long or a short-term investment? If the property is one that you think you will hold for a while, do you have a sense of what the future holds and how the neighborhood is changing? Buying properties in good locations is one of the best ways to ensure the steady flow of rental income.
And remember: properties don't always have to stay the same. Consider things you could conceivably do to the property that might affect your income or investment. For example, can you add on to the home easily? Can you build a garage or change parking? Is it possible to convert a garage to an extra room? Are there regulations regarding subdividing or renovating the home? Can you add a bathroom?
Some communities limit the number of rental properties, while others have height or size limitations when building. If something you desire is not an option, know that going in. Even if you are not planning to change the property in any way in the beginning, understanding what you can and cannot do is a good idea.

Get Insurance and Assurance

Legal documents, including rental agreements between you and your tenants, and service agreements between you and concerned parties are essential. And don't forget more mundane issues that can arise when renting out a property: If a community has fees for water, sewer, community clubs or other amenities, clarify responsibilities -- will these be the responsibility of the owner or renter? Getting the right information out of the gate and spelling it out for your tenants will aid you in the end. These agreements will give you peace of mind and provide legal recourse should you need it.
 A real estate lawyer is an invaluable asset when you purchase a rental property. Not only can a real estate lawyer look over your purchase and rental agreements, they can advise you in other aspects of your investment, including interpreting local regulations. Your realtor will undoubtedly be another great asset, as they are full of more general information regarding local issues and market trends and can likely provide referrals to local property management services should you be interested. The more resources you have on your side, the more assurance you will have that your investment will run smoothly.
Proper insurance includes insurance on the structure itself as well as liability insurance, in case someone is injured while on the premises. In some locations additional flood, earthquake, and storm related coverage is a further way to protect your investment. Since you are responsible for the mortgage, you will want to have the right types of insurance with sufficient coverage to protect your investment.

Remember: You're In Business

Buying a rental property is essentially going into business. When the monthly income from tenants exceeds the amount you pay in mortgage, maintenance, taxes and other fees, you realize a positive cash flow in the short-term. Additionally, if all goes well, you will also realize a profit when selling the property. Doing your research as you look at properties and make your choices enables you to be as prepared as you can be for the ups and downs that you will face in managing your business. In fact, what you learn can make you much more successful in the end.
  Like all businesses where significant money will be changing hands, an accountant who is versed in real estate investing and tax implications will be valuable. You will be collecting rents and incurring expenses for repairs and services. Tax issues become more complex, and a professional will aid you in maximizing your returns on your purchase. Service providers like this can pay for themselves in the money that they save you. Once you know the bottom line with regard to your investment, you will be better equipped to determine a budget for projects related to the property.
Whether this is your first rental property, or you are a seasoned veteran of this sort of investment, your realtor is among your business contacts. Having a straightforward relationship where you present your needs and expectations up front enables you to get the help you need in making that critical step of executing the purchase. Additionally, realtors often have a wealth of knowledge and resources that they are willing share from handymen to potential tenants.
Success in business is not accomplished alone - developing a team of professionals from purchase through ultimate sale of the property is one key to achieving your goals. Follow these steps as you go into your new venture and you will start strong. The rest is up to you!

For Sale. Large House on Duplex Lot

Duplex lot, huge lot. This 3 bedroom home sits on a huge 90x165 lot. Well looked after, owners spent $$$ on this gorgeous 2 level home, workshop for the handyman. Totally renovated up and down, this home has a spacious 'cozy' living room, separate formal dining room, a 'spa' like bathroom complete with jacuzzi. Downstairs feature a 'log home' theme that you have to see to believe. 2 bedrooms and a recroom are a bonus in the basement. Back lane access. Don't miss this opportunity.
Click here for more pics

REBGV Market Update for September 2012 | Real Estate Board of Greater Vancouver

Check out this informative video!

REBGV Market Update for September 2012 | Real Estate Board of Greater Vancouver

Conditions continue to favour buyers in the Greater Vancouver housing market

The summer of 2012 drew to a close in September with home sale activity well below historical averages in the Greater Vancouver housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,516 in September, a 32.5 per cent decline compared to the 2,246 sales in September 2011 and an 8.1 per cent decline compared to the 1,649 sales in August 2012.
September sales were 41.6 per cent below the 10-year September sales average of 2,597.
 “There’s been a clear reduction in buyer demand in the three months since the federal government eliminated the availability of a 30-year amortization on government-insured mortgages,” Eugen Klein, REBGV president said. “This makes homes less affordable for the people of the region.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,321 in September. This represents a 6.3 per cent decline compared to September 2011 when 5,680 properties were listed for sale on the MLS® and a 31.6 per cent increase compared to the 4,044 new listings in August 2012.
At 18,350, the total number of residential property listings on the MLS® increased 14.1 per cent from this time last year and increased 4.5 per cent compared to August 2012.
“Today, our sales-to-active-listings ratio sits at 8 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.
The MLS HPI® composite benchmark price for all residential properties in Greater Vancouver is $606,100. This represents a decline of 0.8 per cent compared to this time last year and a decline of 2.3 per cent over last three months.
“Prices in the region remain relatively stable overall, although we do see some reductions in the areas that have had some of the largest price increases over the last year or two,” Klein said.
Sales of detached properties on the MLS® in September 2012 reached 594, a decrease of 37.9 per cent from the 957 detached sales recorded in September 2011, and a 31.4 per cent decrease from the 866 units sold in September 2010. The benchmark price for detached properties decreased 0.5 per cent from September 2011 to $935,600.
Sales of apartment properties reached 676 in September 2012, a 26.7 per cent decrease compared to the 922 sales in September 2011, and a decrease of 30.4 per cent compared to the 971 sales in September 2010. The benchmark price of an apartment property decreased 0.7 per cent from September 2011 to $368,600.
Attached property sales in September 2012 totalled 246, a 33 per cent decrease compared to the 367 sales in September 2011, and a 35.8 per cent decrease from the 383 attached properties sold in September 2010. The benchmark price of an attached unit decreased 2.7 per cent between September 2011 and 2012 to $458,600.

REALTORS Care® ad: five years in print media

The ad pictured below appeared in The Vancouver Sun and Province newspapers on September 27, 2012. It profiles the contributions REALTORS® have made to charities since 2007.

The aggregated amount of $10.7 million resulted from our annual requests to members and real estate offices to let us know how much they donated or fundraised during the past five years. Members told us they gave $2.2 million to charities in 2011.

This is the fifth year REALTORS Care® has placed an ad in The Vancouver Sun to let the public know about our members’ good works.

Townhouse FOR SALE in East Newton NEW PRICE! 358800

Plenty of room for growth in this well kept 2100 sqft 3 level townhouse complete with fully finished walkout basement on to a beautiful park like setting. This end unit has some tasteful updates including a recent granite counter top and glass back splash in kitchen, stainless steel appliances, and laminate flooring. Not to mention the crown mouldings throughout main floor level plus new window coverings. BASEMENT boasts full bathroom with jacuzzi tub. Hyland elementary is literally steps away. This one is a must see so hurry before its too late!

Contact me for more info!Visit www.powerhouserealtor.ca for more pics and info.

BCREA’s 2012 Third Quarter Housing Forecast Update

The British Columbia Real Estate Association (BCREA) recently released its 2012 Third Quarter Housing Forecast Update.

BC Multiple Listing Service® (MLS®) residential sales are forecast to edge down 4 per cent to 73,400 units this year, before increasing 7.5 per cent to 78,900 units in 2013. Since 2009, MLS® residential sales in BC have ranged between 74,000 to 78,000 units. A record 106,300 MLS® residential sales were recorded in 2005.

“Despite more robust consumer demand in the Interior, fewer home sales in Vancouver will pull the BC total lower this year,” said Cameron Muir, BCREA Chief Economist. “However, a notable growth trend in full-time employment combined with persistently low mortgage interest rates is expected to boost housing demand around the province in 2013.”

“MLS® residential prices are expected to remain relatively stable this year and through 2013, with changes in average price statistics largely the result of a differing mix of home types sold and shifting regional demand patterns,” added Muir. Average price data for Vancouver was skewed artificially high in 2011 by a wave of detached home sales in the priciest neighbourhoods. Lower Mainland’s share of provincial home sales is expected to decline to 58 per cent this year from 62 per cent in 2011. The average MLS® residential price in BC is forecast to decline 7.8 per cent to $517,500 this year, and remain relatively unchanged at $519,000 in 2013.

Source: BCREA

Home Heating

Efficiency tips to help you save:

-have your gas furnace checked annually for safety and efficiency
-replace furnace filters regularly
-try lowering your thermostat a few degrees
-install a programmable thermostat to automatically regulate your home temperature
-caulk and weather strip doors and windows
-seal leaky air ducts
-open drapes during the day to allow sun in to warm the house and close at night to keep in the warm air
-a majority of a homes heat loss is due to insulation. Increase your efficiency by upgrading your insulation

What is a contract and when is it legally binding?

A contract is a legally binding agreement between two or more parties and describes the rights and obligations of the parties to the contract.
Where a contract has been properly drafted and signed by the parties to the contract, and where the terms are clear and the contract is not for an illegal purpose, then it is likely that a Canadian court would consider the contract valid and enforceable.
Only the parties to a contract can sue or be sued under the terms of that contract.

Before you sign a contract

1. Never sign a contract if you don’t understand it.
2. Before you sign a contract, consult your REALTOR®, your REALTORS®’ managing broker, and/or your lawyer for advice.
As a general rule, Canadian courts expect that if you have signed a contract, you have agreed to it and you will therefore be bound by its terms. You may not be protected if you claim you did not understand what you were signing. Always make sure you understand a contract before you sign it.

Standard form contracts

The real estate contracts used by REALTORS® are standard form contracts. The wording and terms of these contracts have been prepared by lawyers and have been tested in Canadian courts.

Cancelling a contract

If you have signed a standard form Multiple Listing Contract, Exclusive Listing Contract or Exclusive Buyer Agency Contract and you wish to cancel the contract early, you can only do so if the other party to the contract (your REALTOR®’s company) agrees. The Real Estate Board cannot require its members to cancel listing or buyer agency contracts early.
If you have signed a contract to buy or sell a property (contract of purchase and sale) and wish to cancel it you should seek legal advice without delay. REALTORS® are not parties to these contracts and therefore cannot cancel them unless the contracting parties agree, in writing, to do so.

What happens if a buyer or seller doesn’t fulfil the terms of a contract?

Even though your REALTOR® may have drafted the contract to sell or buy a property for you, s/he is not a party to that contract. A REALTOR® cannot force his/her client to fulfil the terms of a contract with the buyer or seller. If the buyer or seller does not fulfil the commitments they have made in the contract, you may have legal recourse and should seek legal advice.
If you do not have a lawyer, you may wish to contact the Lawyer Referral Service: 604.687.3221. If you have difficulty understanding English then you may wish to contact organizations like S.U.C.C.E.S.S., call 604.684.1628 for assistance.
Here are examples of common issues for which the buyer or seller (not the REALTOR®) is responsible:
 •  Buyer does not close the sale.
 •  Buyer does not remove the contract’s subject clauses.
 •  Seller does not close the sale.
 •  Seller does not remove the contract’s subject clauses.
 •  Property is left untidy or dirty by the seller.
 •  Seller has removed items that were included in the contract.
 •  Transaction does not close on time.
 •  Appliances break down or a previously unknown property defect reveals itself after closing.

SOURCE GVREB

Your REALTOR® and his/her brokerage may be able to assist you to resolve this type of complaint. Typically your REALTOR® will contact the other party’s REALTOR® or brokerage and let them know about your concerns and ask them for assistance in resolving your concern. As noted, your REALTOR® cannot force the other party to do what they said they would do in the contract. (For this, you need the assistance of a lawyer or the Courts.)

Post production Editing Business For Sale

Profitable working business for sale. Post production Editing Business. Great turn key with plenty of potential. Providing site Trailers complete with screening rooms to Hollywood's productions during the actual shooting stage. When your image and sound has to be perfect we have what you need. Included in the sale are 4 Trailers. Complete details of all trailers upon request. This business has a high reputation within the industry and the film credits speak for themselves. Business must be relocated.

Visit: http://donmortimore.point2agent.com/Listing/ViewListingPhotosAuthenticated.aspx?ListingID=65749402&ShowCompact=false&Preview=false&new=false&LastTabIndex=0&BackEmailID=-1&BackEmailTypeID=NONE

Motherhood to Entrepreneur!

Many Mothers thinking of returning to the workforce are contemplating home based businesses that allow them to remain at home as well as have flexibility in their work schedules.  Thankfully Motherhood has helped hone many skills that will help prepare you for entrepreneurship!

Adaptation – Any mother will tell you that children require you to adapt continually to a set of different, competing demands on a daily basis and remain undaunted by it. Entrepreneurs equally must adapt continually to changing markets and competing demands.
Acceptance – As a mother you must accept that your child might not grow as fast as you want or develop as quickly as you planned. This is the same when setting out on any business venture, whether starting out, buying one or looking at acquiring a franchise.
Communication – To be successful in business you must be a great communicator. Women love to talk and mothers are great at devising unique ways to communicate with a child, whose vocabulary is limited.
Creativity – To manage a business effectively you must think creatively and strategically. A mother who spends time playing with a child develops creative and innovative ways to engage and amuse them.
Consistency – Instructions to a child must be consistent, otherwise they grow confused. When running a business or managing staff consistency is equally vital for the same reasons.
Empathy – Right-side thinkers are hardwired for empathy. This gives mothers an edge when it comes to understanding another’s state of mind and therefore in dealing with clients and suppliers.
Intuition – ‘Mother’s just know’. Being attuned to your child and its surroundings can be a useful skill. Good business sense relies heavily on gut feelings too.
Patience – It’s a virtue that few of us have, but the patience developed in motherhood can be applied to running a business. Knowing when to push and when to be patient on business deals can be the difference between getting the right deal or the wrong deal, or no deal at all.
Planning – Whether it’s arranging babysitters, planning meals for the week or working out what’s best for the school holiday, planning in motherhood is like planning in business; you must have the foresight and ability to organise to cover all eventualities.
Negotiation – Negotiating with a three-year-old makes dealing with the most difficult of clients child's play. They will be self-centred, intransigent and unreasonable at every turn - but children can be even worse.
Networking– Mothers need help. You must seek out individuals who can share your burden as a parent. Whether that’s finding new friends at antenatal classes or finding parents to help with the school run, the wider you cast your network the more attainable your goals will be. Business requires the same skills; the ability to network effectively means you have a greater chance of meeting your business goal.

source Businessesforsale.com

Windows and your energy costs

With heating and cooling costs continuing to rise, it makes sense to look at one of the leading causes of energy inefficiency in the home: the windows. Installing energy-efficient windows can mean increased comfort as well as savings on utility bills in any climate.


The transmission of air and light is generally the most important function of windows. However, this can mean heat loss in the winter, overheating in the summer, and higher energy bills. A typical home may lose up to 30% of its heat or cooling through windows. Properly installed energy-efficient windows can go a long way toward improving this situation.

There are many factors that affect a window's energy efficiency. Whether they are single or multiple-paned, gas-filled, Low-Emittance (Low-E) coated, and even the material of the window frame all contribute to a window's performance. One excellent resource is www.efficientwindows.org, which provides detailed information on these specifications and how to select windows appropriate for various climates. An experienced window contractor can also be a good source of information and recommendations.

Homeowners should check with their local utility to find out about possible rebates and other incentives for the purchase of new, energy-efficient windows.

Of course, replacing windows is not always a viable option. However, there are steps homeowners can take to improve their energy savings without replacing windows such as making sure windows are properly caulked, keeping weather stripping in good repair, and using storm windows will help. Putting window coverings is another good way to reduce heat loss in winter and avoid overheating during summer.

Improving energy efficiency throughout the home means cost savings to the homeowner. Energy-efficient windows are a significant step toward that goal.



Source: Pillar to Post

How to Take Great Pictures

Remember the olden days when you had no idea how your photos would look until they were developed? Digital cameras eliminate this problem but there’s more to taking a great photo than just pointing and shooting. Here are some easy tips that separate the amateurs from the pros:

*In Your Face - Don’t be afraid to get up close and personal when you’re taking pictures of people. If you’re not able to get in close, use the optical zoom instead of the digital zoom as the digital feature causes blurriness.

*Know Your Modes - Don't just set your mode to “Auto” and hope for the best. Get to know all your camera’s scene modes such as "Portrait", "Night Mode", "Kids & Pets", etc. as they'll make a huge difference to the sharpness and quality of your photo.

*Practice Makes Perfect - A common frustration is shutter delay caused by autofocus. One solution is to press the shutter release button halfway down to lock the camera’s focus and when you’re ready to shoot, fully press the button and the photo will immediately be taken.

*Light it Up - Photography’s about capturing light so it’s best to take your photos outside as household light often shows up yellow. Turn the lights on if you're inside and make sure to hold your hand steady so the shot isn’t blurry. Turning your flash off can sometimes help.

The Internet offers many tips for the budding photographer including composition and lighting tricks. Improving the quality of your photographs isn’t about buying a more expensive camera; it’s about understanding the camera you already have.

Your Cheat Sheet for Buying a Business

Your Cheat Sheet for Buying a Business

When buying a business, you are buying its future based on its past performance. Your decision to purchase a business for sale will affect your life style and finances. A cheat sheet can minimize your risks and uncertainties.

1. Which business opportunity matches your knowledge, experience and passion? Is the business for sale profitable? Is there room for growth? Consider products or services that generate sales and attract repeat customers. What are the recurring expenses associated with running the business? Can you lower costs to increase your profit margin? How is the business compared to the competition?

2. How much does the business cost? How much of this can you raise on your own? What are your borrowing requirements? Choose a company with a healthy cash flow so you will not be in debt for long. Only borrow the amount that you can afford to pay.

3. Investigate the business for sale. Make sure there are no problems in the transfer of existing contracts with suppliers, landlord, etc. to you.

4. Study how you will structure your company. Will you invite partners or go solo?

5. How much time will you spend in running the business? Do you know enough about this business to run it? How will your family life be affected?

Coming up with a firm business plan will ensure that you follow the path to your financial goals. Do not lose focus on your objectives. Hopefully you find this business cheat sheet is helpful. Did you have any questions? 

source: globalbx

Back to School Tips

Summer will soon be over which means 'back to school' chaos is right around the corner. Adjusting to back to school mode is simple when you prepare and set up some regular routines. Here are a few tips on how to make the transition a little easier for everyone:

1)Plan Ahead - Get in the habit of doing as much as you can the night before. The morning routine will be smoother if you lay out clothes, pack backpacks and make lunches in advance.

2)Get Organized - Designate a central ‘information station’ where school notes can be processed and schedules are pinned up. Kids will know where to drop off and pick up items which reduces the chance of something getting misplaced.

3)Bedtime Blues - Your little night owls will benefit from having their bedtimes rolled back a few weeks before school. Also, start gradually setting the alarm a little earlier to help them get used to the early morning routine.

4)Bake in Bulk - Double up your next batch of muffins and freeze some so you’ll have extra after school snacks or lunch treats. For a healthy option, use summer fruits like berries and whole wheat flour.

5)Stay Positive - Returning to school is an emotional adjustment for children so help them stay positive and ensure you’re available as much as possible for the first little while.

Back to school doesn’t have to be about forgotten lunches, unlabelled belongings and lost permission slips! With a little organization and planning, you'll be able to enjoy the rest of the summer knowing that September will be smooth sailing.

www.powerhouserealtor.ca

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What Does a Lawyer Do in a Business for Sale?

What Does a Lawyer Do in a Business for Sale?

Some business buyers buy a business on their own. That is fine, considering the availability of legal business forms and templates. Others, like you, are wiser and more cautious. You want to lower your risk by hiring professionals, which could include a business lawyer, an accountant, a business broker and a property appraiser. They each have a specific role in the business for sale transaction. They supply you with pertinent facts upon which you base your decision on buying a business. Your team must work well together in a timely manner. Below are some tips on how to choose the right lawyer.

What Should You Look for in a Business Lawyer?
Remember that you are the boss. You are hiring professionals to ensure that you are making a smart purchase. They should protect your interests.

1. Referral. Ask your business broker, accountant, banker, family, other business owners, or friends for names of business transaction or corporate lawyers. Contact the state bar association or other lawyers to know more about these referrals. Check the internet, local newspaper archives and other publications. What do people say about them? Are they skilled and trustworthy?

2. Interview. Be polite yet make your terms clear. Here are key deciding factors to help you evaluate if you have found the right lawyer for you.

a. Experience. Look for a lawyer who handles business transactions with experience in buying a business. He or she should understand the industry you want to buy into. Does the lawyer represent similar businesses? Is he an expert in structuring business organizations?

b. Conflict of Interest. You do not want to hire a lawyer who represents the seller or your potential business competitors.

c. Attention. The lawyer should give you his or her full attention during the interview. He or she should be calm, and not be preoccupied or distracted.

d. Articulate. A corporate lawyer should be able to explain the risks you are facing and how to avoid them. He or she should use simple, understandable language; and be patient when walking you through legal issues.

e. References. Ask for references and call them. Were they satisfied with the services of the attorney? Did he or she meet deadlines? Was the lawyer patient in answering their concerns?

f. Malpractice Suits. Ask if the lawyer is facing any malpractice suits.

g. Comfort Level. Will you be comfortable working with this lawyer? Can you make demands? How were you are treated during the meeting?

3. Acceptable Rate. Clearly define the services you require of the lawyer. You can save legal fees if you can narrow down the scope of the tasks. For example, business brokers usually have a Letter of Intent template. You can use this and just ask the lawyer to revise and review it, instead of asking him or her to draft a new one for you. Ask the lawyer for a list of tasks in a business transaction. Whatever is on this list that you can do, do it. Negotiate the fee.

When Do You Need a Business Lawyer?
You need the services of a corporate lawyer in the following instances when you buy a business.

1. Letter of Intent. Once you decide to put in an offer, submit a LOI to the seller. Although this document is non-binding, you want a lawyer to look at it.

2. Due Diligence. The attorney reviews all contracts of the business – leasehold, assets, employees, suppliers, and other third party agreements. He or she secures approval of the transfer of these contracts to you. He or she also makes background checks on intangible assets like copyrights, patents, trademarks, etc. to make sure that there are no problems with the transfer of ownership. The lawyer verifies if there are loans, liabilities, claims, lawsuits against the company or liens against the assets of the company. He or she checks if the seller has the legal right to sell the business or its assets.

3. Financing. The lawyer sees to it that you comply with all legal requirements.

4. Purchase Contract. Lawyers of both sides (buyer and seller) put into legal format the agreed terms, including the type of sale (asset or stock).

5. Closing. The lawyers make sure the parties sign all the documents and there is the exchange of money, titles, etc. A non-compete agreement and promissory note on the financing of the company may also be part of the closing of the deal. Lawyers should accomplish your goal and not create animosity between you and the seller. Maintaining a relationship with the seller is important. You can call on them for advice when you encounter problems in the business. Are you ready to hire a lawyer to help you buy a business? 

Source Globalbx

Greater Vancouver market hits summer lull

VANCOUVER, BC – Residential property sales in Greater Vancouver remained at a 10-year low in July, while the number of properties being listed for sale continued to edge down and prices remained relatively stable.
        
The Real Estate Board of Greater Vancouver (REBGV) reports that there were 2,098 residential property sales of detached, attached and apartment properties in July. That’s an 18.4 per cent decline compared to the 2,571 sales in July 2011 and an 11.2 per cent decline compared to the previous month’s 2,362 sales.
July sales were the lowest total for that month in the region since 2000. They were 31.2 per cent below the 10-year July sales average of 3,051.
“People appear to be cautious about making significant financial decisions right now. While our local economy appears to be quite robust, there may be some concern about the impact of international markets and the federal government’s tightening of mortgage regulations,” says Eugen Klein, REBGV president.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,802 in July, the lowest number of new listings for any month this year. This represents a 5.8 per cent decline compared to July 2011 when 5,097 properties were newly listed for sale on the Multiple Listing Service® (MLS®) and a 14.5 per cent decline compared to the 5,617 new listings reported in June 2012.
At 18,081, the total number of active residential property listings on the MLS® increased 18.8 per cent from this time last year and decreased 2.2 per cent compared to the previous month.
“With a sales-to-active-listing ratio of 11.6 per cent, conditions have favoured buyers in our marketplace in recent months,” Klein said. “That means buyers have more selection to choose from and more time to make a decision. For sellers, it’s important to price properties competively. For information on local market prices, contact your REALTOR®.”
The MLS® Home Price Index (MLS® HPI) composite benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 0.6% to $616,000 and declined 0.7% compared to last month.
Sales of detached properties on the MLS® in July 2012 reached 787, a decrease of 28.4 per cent from the 1,099 detached sales recorded in July 2011, and a 13.3 per cent decrease from the 908 units sold in July 2010. The benchmark price for detached properties increased 1.4 per cent from July 2011 to $950,200 and declined 1.2 per cent compared to last month.
Sales of apartment properties reached 927 in July 2012, a 10.9 per cent decrease compared to the 1,040 sales in July 2011, and a decrease of 5.3 per cent compared to the 979 sales in July 2010. The benchmark price of an apartment property remains unchanged compared to July 2011 at $374,300 and declined 0.5 per cent compared to last month.
Attached property sales in July 2012 totalled 384, an 11.1 per cent decrease compared to the 432 sales in July 2011, and a 4.3 per cent increase from the 368 attached properties sold in July 2010. The benchmark price of an attached unit decreased 0.5 per cent between July 2011 and 2012 to $468,700 and is relatively unchanged compared to last month.

source gvreb

Watering Lawns

Your lawn will tell you when it’s thirsty. Grass will curl up to conserve moisture and the colour will turn bluish-green. It will also be less resilient so, when you walk across the lawn and look back, you can see your footprints. When you see these signs, give your lawn a long drink of water. To promote a healthy root system, water infrequently but deeply. This trains roots to grow deep in the soil for strength and health. You can measure a long drink of water by putting out plastic food containers with a mark one inch from the bottom. Spread the containers out in the sprinkling zone, then time how long it takes to reach the one-inch mark. That’s how long you should water your lawn. In general, a lawn needs about one inch of water a week to promote healthy growth and development.

Homeowner quiz for sellers

What kind of homeowner are you?
Take the quiz and find out your personalized tips for preparing your home for sale.
1) After finishing your dinner do you:a. Leave everything on the table and come back to clean up later.b. Take the dishes off the table, put away the leftovers and pile the dishes in the sink or dishwasher for later.c. Clean the table, put away the leftovers and wash the dishes right away.

2) Your home office has a desk that is:a. Covered with papers, receipts and random objects. b. A pile of stacks. There is enough free space to do your work and you can still find what you’re looking for.c. Clean and neat. Everything has its place and papers are filed right away.

3) You’ve just finished your laundry, do you: a. Leave the clothes in a pile on a chair. It’s easier to find them later this way.b. Fold and put the clothes in any drawer with available space.c. Fold and put away your clothes in their appropriate drawers.

4) In your household you have:a. A dog or cat that is allowed indoors.b. A smoker who often/always smokes indoors.c. None of the above.

5) How do you accessorize your home?a. I like to display personal mementos, souvenirs and family photos around my home.b. I love decorative accessories and like to feature eclectic ethnic artifacts and antique items around my home.c. I prefer clean and tidy surfaces and display few decorative or personal items around the house.

6) Which of the following best describes your home?a. My home is eclectic and fun with bright colours and accessories throughout.b. My home is traditional with warm paint colours and lots of dark wood.c. My home is in a modern and simple style with neutral colours and few accessories.

7) Spring has arrived and your yard is in need of some maintenance, do you:a. Rake the yard and generally get rid of debris.b. Clean the yard of debris and mow the lawn.c. Clean the yard of debris, mow the lawn, clear the weeds, apply fertilizer and plant new flowers.

8) Which best describes your home:a. I haven’t had the time to properly decorate most of my home and a couple of the smaller rooms are used only for storage. Some minor repairs are still waiting to be done around the house.b. The main areas of my home are decorated and furnished but I never got around to properly decorating and furnishing the basement or guestroom. Some minor repairs are still waiting to be fixed around the house.c. I have taken the time to properly furnish and decorate every room. I have also undertaken several renovation projects throughout the years.

Give yourself a score of 1 for every “a”, a score of 3 for every “b”, and a score of 5 for every “c” answer.
If your score is between 8 and 16, you need to roll up your sleeves and get working to prepare your home for sale. Based on your responses, your home will need deep cleaning and de-cluttering before showings start
Deep clean your home making sure each room and surface is spotless. Make sure to remember your appliances and windows too.
Get rid of the clutter to allow buyers to properly see your home. Pack away unnecessary items and make sure counters and tables are free of appliances and personal items. If any rooms are used for storage alone, pack away the items and properly furnish the rooms. Don’t leave them empty as buyers will have a hard time visualizing living in a space without any furniture.
Put away collectibles and family photos to help de-personalize your home. Buyers will be able to imagine themselves in your space better without your personal items around.
Although your fun sense of décor and colour may suit your personality, go neutral for the sale. Adding a fresh coat of neutral paint and getting rid of unusual accessories will ensure that your home appeals to a larger pool of buyers.
If pets or a smoker reside in your home, remember that you probably won’t notice the smell if you’re around them all the time. Have a trusted friend give you an honest opinion and deep clean to get rid of the odour.
And lastly, don’t forget curb appeal. First impressions count, and buyers begin to form an opinion as soon as they pull into your driveway. Keep your yard neat and tidy with your lawn and shrubs trimmed, and flower beds weeded. Store away your children’s toys and garbage bins, and give the exterior of your home a good wash or a fresh coat of paint.

If your score is between 17 and 32, there are a few easy steps you can take to make your home more appealing to buyers.
Clean your home from top to bottom, making sure you pay special attention to kitchens and bathrooms. Make sure to de-clutter and reorganize your home. Remove any excess furniture to enhance the feel of openness and space. Storage space is a top priority for buyers, so clean and organize your closets and storage areas. Get rid of anything you don’t need and make sure your closets are not overflowing with items.
Brighten and lighten up your home with a fresh coat of neutral coloured paint. Soft neutrals such as pale yellows and grays can give a house a nice sophisticated look that appeals to most buyers.
Store away your eclectic accessories and create more room on your counters and tabletops. Your unique items may be an expression of your personality but they might also make it hard for buyers to visualize themselves in the space.
And last but not least, fix that leaky faucet and any other minor repairs that you’ve been neglecting around the house.

If your score is between 33 and 40, your home is in top shape and will only need a little bit of work to bring in that sale.
One great way to stimulate buyers’ imaginations is to set the scene. Put fresh flowers on the mantle and set the dining room table for a formal dinner. If it’s a cold day, light a fire in the fireplace. Look at your home through the buyers’ eyes and create an atmosphere that will help them envision themselves living there.
To further enhance your home’s curb appeal, spruce up your flower beds with new flowers and ground cover to give the home additional touches of colour.

Going Green

Help benefit the environment as well as your long term finances . Here are a few environmentally friendly ideas for your home:

Tankless Water Heater: By purchasing a tankless water heater, you’ll save one more water heater from ending up at the landfill. Although it may cost more initially, you’ll save money in the long run as water's only heated on demand.

Low Flow - You'll instantly cut down your water usage by installing a low flow shower head. If your toilet’s seen better days, consider installing a low flow toilet which will also put money back in your pocket while conserving water.

Lighting- Energy saving light bulbs use around 75% less electricity than regular bulbs and last up to ten times longer so you’ll save on your bills and help the environment. Consider adding timers or motion detectors outside to save even more!

Air quality- Volatile organic compounds (VOCs) consist of chemicals that are released into the air over time. These chemicals are emitted by building materials such as cabinetry, carpet and paint and are detrimental to our health. Improve your indoor air quality by using VOC alternatives.

Reuse- Cork, reclaimed wood and bamboo are all environmentally friendly flooring options. Carpet usually isn't an earth-friendly choice as it emits VOCs and isn’t biodegradable; however, the carpet industry is changing to meet the needs of conscious buyers by using recycled materials and natural fibres.

Generate Green Energy - Solar power takes the heat and light from the sun and converts it into useable energy. Solar panels will cut the cost of your electricity bill, contribute to the fight against global warming and add value to your home.Lessening our carbon footprint is a priority for most of us. Our home is a great place to start making a contribution as small changes can make a big impact. If you’re in the process of remodelling or just want to consider some greener options for your current home, there are many choices available that will not only save our planet but will also save you money!