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FRIDAY, AUGUST 23, 2013

NEW WESTMINSTER

Looking to BUY or SELL a home? To assist you in making the best decisions, a professional Realtor can provide

the most up to date information on the real estate market, price, fi nancing

and comparative properties in your area.

Find your EXPERT Real Estate professional right here in REW.ca!

R E A L E S T A T E W E E K L Y

Last month was unusual on two fronts.

Most noticeably, it was the sunniest July

in Vancouver since 1986. (Yaay!) It was

also the biggest month for home sales

this year.

Usually there’s a summer lull in the

housing market. Not this year. Sandra

Wyant, president of the Real Estate Board

of Greater Vancouver, suggests that

“pent-up demand from the slowdown in

sales activity we saw at the end of last

year” was one factor.

The glorious weather, stable prices and

the hint that mortgage rates might go up

some more might also have had some-

thing to do with it.

Or maybe it’s just the alignment of

the planets, because this activity wasn’t

confi ned to Greater Vancouver. July sales

were up in the Fraser Valley, which has

been experiencing 10-year lows for over

a year. Toronto also had a bigger-than-

expected July. In fact it had the third-best

July sales on record.

That means the three most expensive

housing markets in Canada all saw atypi-

cal buying and selling in what’s generally

a pretty lax month for home sales. Wonder

if that’s enough to send the federal gov-

ernment back into a fl urry of market-

calming activities.

Sales and ListingsIn Greater Vancouver, 2,946 homes

sold on the MLS® last month, up by 11.5

per cent from the month before, and up

a full 40.4 per cent from last year at the

same time (2012 was a slow year). Those

July sales even beat the 10-year average

by a hair—the fi rst time this year sales

have been anywhere near the 10-year

average.

Meanwhile, new listings have been

dropping every month since April. With

fewer home owners putting their places

up for sale, the increase in sales ate away

at the active listings. There were 16,618

MLS properties for sale at the end of July,

which was down 3.9 per cent from June

and down 8.1 per cent from July 2012.

This bumped up the sales-to-active-list-

ings ratio from 15 to 17.7 per cent, which

is considered a balanced market. It’s been

consistently over 15 per cent since March

of this year.

There are 5.6 months of inventory,which

means it would take 5.6 months to sell

every property now available at the cur-

rent rate of sales activity. That number

also indicates a balance of supply and

demand.

A HOT JULY FORA HOT JULY FORHOME SALESHOME SALES

Benchmark Price (MLS® Home Price Index)

The surprising July sales didn’t aff ect benchmark prices (based on the price of a typical

home for its neighbourhood). Across the Greater Vancouver region, these are generally

within one per cent of where they were in June.

Home prices are still lower than they were the same time last year. July 2012 was just

two months off the all-time price peak for Greater Vancouver.

We hear from many Realtors that they’re expecting very strong September sales this

year, and July’s numbers sure seem to be heading in that direction.

What’s Up, What’s Down - At a Glance

July 2013 / June 2013 July 2013 / July 2012

Overall Sales +11.5% +40.4%

- Detached +13.2% +59.0%

- Townhome +3.2% +27.0%

- Apartment +13.3% +31.0%

New Listings -0.4% +1.1%

Current Listings -3.9% -8.1%

Greater Vancouver MLS® Benchmark Prices % Change

July 2013 June 2013 July 2012

Detached $920,500 +0.1% -3.1%

Townhome $456,700 -0.1% -2.6%

Apartment $368,300 -0.2% -1.6%

More on where the

market is heading

LIFETIMEMEMBER

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$737,000

4 Bedroom Family Home with Legal (2) Bedroom Suite with Separate Laundry Rented at $900.00 per Month. 33ʼ x 120ʼ Lot & Bus Stop Out Front. 527 EWEN AVE.

$759,000

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334 JOHNSTON STREET

FRASERIDGE

REALTY

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SOLD LOOKING TO

BUY OR SELL A HOME?

To assist you in making the best decisions, a professional Realtor canprovide the most up to date information on the real estate market,

price, fi nancing and comparative properties in your area.

Find your expert Real Estate professional right here in REW.ca!

$949,000

BEAUTIFULCHARACTER HOME

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WONDERFUL FAMILY HOMEIN “LINCOLN PARK”

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1 BEDROOM -GREAT

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PropertyManagement:

604-439-3337

johnnycatroppa@royalpacific.com

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To assist you in making the best decisions, a professional Realtor can provide the most up to date information on the real estate market, price, fi nancing and comparative properties in your area.

Find your expert Real Estate professional right here in REW.ca!

LOOKING TO

BUY OR SELL A

HOME?

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FROM FACTORY TO SITE

Thinking about buying

a brand new home?

One of the images that

springs to mind is the

construction site, bus-

tling with activity as a succession

of workers and subtrades build your

home from the ground up.

The reality is that increasingly

your new home is built in facto-

ries and then assembled on your

building site. Pre-fabricated roof

trusses, pre-assembled wall pan-

els, ready-to-install kitchen cabi-

nets, pre-fi nished fl ooring…these

and many other components used

to be built piece-by-piece on site.

The vast majority of new home

builders today take full advantage

of the quality, precision and just-

in-time delivery of manufactured

building components. This allows

them to provide their customers

with a high quality home effi ciently,

cost-eff ectively and within a shorter

timeframe.

As manufacturing processes

have become more sophisticated,

opportunities for moving the con-

struction of homes inside the fac-

tory have expanded. Factory-built

housing is a growing industry in

Canada, refl ecting changes in home

construction here and elsewhere. In

Sweden, for instance, close to 90%

of all new homes are factory-built.

Today, homebuyers and new

home builders can choose from a

number of factory-built systems

that provide a home in varying

degrees of completion-from modu-

lar and manufactured homes that

arrive on site virtually complete,

to pre-engineered and panelized

homes that reduce the amount of

work required at the site.

As the name implies, modular

homes are built in three-dimension-

al modules, off ering home buyers

and builders a great deal of design

fl exibility. The homes are very ener-

gy effi cient and can be built to

the R-2000 Standard-the highest

standard for energy performance

in Canada.

Modules can be combined to

make one-, two- or three-storey

homes. While a typical two-storey

home consists of four or fi ve mod-

ules, larger custom homes might

use eight or more of varying dimen-

sions. A small, but growing number

of developers have also turned to

modular construction for multi-fam-

ily complexes (e.g. row housing).

When the modules arrive on your

lot, they are ready for assembly

on the foundation. Insulation, air/

vapour barriers, plumbing, wir-

ing, siding and other construc-

tion details are mostly completed.

Interior fi nishing is usually well

advanced, including drywall, trim,

fl ooring and cabinets. Completing

your home on site can take the

builder a couple of weeks or more,

depending on the size, style and

features of the home. Some features

and custom upgrades are best done

on site, such as brick siding and

some hard surface fl ooring.

A manufactured home is the

option that is the most complete

when it leaves the factory. It is

often ready for move-in the same

day or a few days after it arrives on

your site. Due to their unique struc-

tural design, manufactured homes

can be installed on surface founda-

tions, such as piers. They can also

be relocated, although the majority

are never moved from their original

site. Built in one or two sections,

manufactured homes are available

in many designs and layouts, with

a wide selection of standard and

customized features.

Characteristic of panelized

homes are pre-fabricated wall sec-

tions that can reduce on-site con-

struction time considerably. The

panels can be partially or fully com-

pleted, with windows, doors and

siding often installed already. For

pre-engineered homes, the major

building components are prepared

in the factory and shipped to the

building site as a package ready

for assembly, including framing

YOUR HOMEToday, homebuyers and new home builders can choose from a number of factory-built systems that provide a home in varying degrees of completion-from modular and manufactured homes that arrive on site virtually complete...

materials, doors, windows, roofi ng,

siding, interior wall partitions and

subfl ooring. The pre-engineered

building system emphasizes pre-

cision design and pre-cutting and

can be used for virtually any home

design, from standard cottage plans

to highly customized dream homes.

For more information about

factory-built housing, contact the

Canadian Manufactured Housing

Institute at 613-563-3520, or

visit the Institute’s Web site at

www.cmhi.ca.

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$669,000

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$699,000

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$448,800

Mrs. Smith604.123.4567

www.yourrealtorrealty.cainfo@yourrealtorrealty.ca

Mr. Smith604.123.4567

www.yourrealtorrealty.cainfo@yourrealtorrealty.ca

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The Seniors Real Estate Specialist

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Commuterʼs Dream• Large 717 sqft. one bedroom • Trendy open fl oor plan• Granite counters, stainless steel appliances• Largest deck in complex• Walk to shopping and transport

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Evergreen skytrain

2404 - 2355 Madison $459,000

New Listing

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Top 1.5% of Realtors for 2012

11 Maple Drive $1,098,000

#52-55 Hawthorn Drive $738,000

56 Maple Drive $1,088,000

#704-3001 Terravista Place $349,800 #116-600 Klahanie Drive $389,000 #71-55 Hawthorn Drive $798,900

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1217 Nestor St. $469,90058 Hawthorn Drive $898,000

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NEW PRICE

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JUSTSOLD

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jobs@rew.ca

EMPLOYMENT OPPORTUNITYSales Manager

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No phone calls please.

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