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