Last week we talked about the Property Transfer Tax exemption for 1^st time home buyers. To qualify, you must be a Canadian citizen or a permanent resident and have lived in BC for 12 consecutive months immediately before the purchase, or filed 2 BC tax returns during the previous 6 years. You must not have owned an interest in a principal residence anywhere in the world at anytime, or ever received a first time home buyers’ exemption or refund. This saving is crucial for many 1^st time home buyers.  

One of the most well known programs designed to help first time buyers is the Property Transfer Tax (PTT) exemption. PTT is a tax payable by buyers on most real estate transactions. It is calculated at 1% of the 1^st $200K, 2% of the balance  – a substantial sum of money. First time buyers may be exempted from paying this tax as long as the purchase price does not exceed $425,000. From $425,000 upwards the amount of exemption decreases; the exemption is not available for homes priced at over $450,000. For many first time buyers, this saving is crucial to their ability to purchase their first home.

And remember, we build our real estate business with your referrals, one client at a time.

There is encouraging news out of the U.S. Real estate sales are up across the country and are at their highest levels since 2007. Analysts attribute this to a strengthening economy, historically low interest rates and attractive prices. There are also fewer foreclosures, which lessens the supply and reduces the number of pressure sales. Many areas have actually seen price increases. Canadians familiar with the ups and downs of real estate markets may recall that, historically, Canada often follows trends set in the US. There is no doubt that a rebounding real estate market in the US will help us.

Selling a home just got more affordable in BC. Prior to the HST, there was a 5% tax on the fee realtors charged to sell a home. No PST applied. However, when the 2 taxes were harmonized, PST was added and the tax on real estate fees suddenly jumped to 12%. Obviously, anytime a tax more than doubles it's harmful. On April 1 the GST replaced the HST and the tax on real estate fees dropped  back to 5% for all home sales that close on or after April 1. We welcome this saving. 

Slower real estate sales have been in the news lately. However, it may be a matter of perspective. While the rest of the world struggles to manage unprecedented debt levels and economic upheaval, Canada, and BC in particular, enjoys a relatively stable economy. This has helped us maintain a much healthier real estate market. We may be behind traditional levels of sales, but our healthier employment figures, manageable debt levels and sound banking system have insulated us from the worst of the recession.

Some think that one listing agent is like another. We’re all licensed, we all have access to MLS… why not just choose the discount broker? But if there is no difference, why does RE/MAX Oceanview outsell everyone else every year? Let’s start with the best, full time Realtors. Now put them in a real office where they can collaborate on sales. Add in the best training and the distinctive RE/MAX brand and marketing. Those are differences that equal success, proving the old adage: you get what you pay for. And remember, our business is built on reputation and service. We’re always grateful for your referrals.

Many buyers find the home hunting process overwhelming. This is especially true in today's market,

given the large supply of listings. Where to start? Your RE/MAX agent is trained to help. We not

only know the market, we know how to use the process of elimination to shorten the list of

potential purchases. Through careful study of location, style and price range, we can quickly establish

a more manageable list and bring clarity and efficiency to your house hunting. And remember, our business is built on reputation and service - we’re always grateful for your referrals.

When markets are fluctuating buyers sometimes hesitate, hoping for an even more favourable market if they wait. However, you can time the market perfectly and still be unhappy with your decision. If you're after your dream home, there is one thing more important than timing: selection. And the selection of homes on the market today has never been better. Look for your dream home now while the choice is so abundant. And remember, we build our business on great service and happy clients – we’re always grateful for your referrals.

We have been reporting for some time now significantly lower prices for real estate on the

Sunshine Coast. History shows that markets generally rebound when investments in rentals

become viable. We are approaching that level now. There are homes on the market that are

priced under $300,000 that would fetch $1,300 per month rent. With a 25% down payment,

the monthly mortgage payment would be approx $1,200. Take note: when mortgage payments

get close to rental payments markets usually pick up, especially when other investments like

the stock market are uncertain. Our business is built on great client relationships. We’re

hopeful you will refer us to friends & family!

When you list and sell as many homes as RE/MAX Oceanview does, you learn a few things along the way. Like Buyers’ preference for newer construction. We have noticed that many of our buyers, including those buying for the first time, aren’t as willing to take on projects and “fixer-uppers” as they once were. This has frustrated sellers of older homes. Even though their homes are solid and livable, current buyers seem more willing to spend extra money on newer homes rather than on renovations and repairs on older ones. And remember, our business is built on great service and happy clients relationships – we’re always on the look-out for your referrals to friends and family.

Many people buy and or sell a home only 3 or 4 times in their lives. That doesn't allow for much experience. Yet they will often want to direct the marketing and other aspects of the process. As Realtors, we spend every hour of our working day helping people buy and sell. It's our job to market and sell real estate – we’re professionals. We’re licensed, held to strict standards and we know the market inside out. That's why we encourage you to let us handle the marketing and listen to our advice on pricing.  

According to the National Association of Realtors, 87% of sellers found their realtor through a referral from a friend or family member. This suggests that reputation is paramount in how people choose their agents. A resume of happy previous clients is essential. All of the realtors at RE/MAX Oceanview are successful professionals with large circles of clients, friends and family willing to refer them - one of the main reasons we've been the top listing real estate office on the Coast for 17 years in a row. 

And remember, our business is built on great service and happy clients relationships – we’re always on the look-out for your referrals to friends and family.

Some recent news stories have featured falling prices for real estate in some of Canada’s larger markets. Vancouver, in particular, has been singled out. However, lower prices are nothing new for the Sunshine Coast. While larger markets have seemed immune to downward pressure on prices, our market has been adjusting for some time now. We think much of this adjustment on the Coast is already behind us.   

And remember, our business is built on great service and happy clients relationships – we’re always on the look-out for your referrals to friends and family.

For real estate on the Sunshine Coast, 2012 looked a lot like 2011 - good stretches of activity and sales, followed by slower periods, followed again by more good activity. All in all, we’re happy with the past year. We did see continued downward pressure on prices, mainly because sales still lagged below traditional levels. However, one thing has remained constant: for the 17th year in a row, RE/MAX Oceanview Realty was the top selling office on the Sunshine Coast.  We know of no other real estate office anywhere that has experienced this level of success. Our goal is to do it again in 2013! 

And remember, our business is built on great service and happy clients relationships – we’re always on the look-out for your referrals to friends and family.

One of the most important tasks we have when we list your property is to keep you informed. This may involve feedback on a showing or enquiry, an update on a new listing or sale in your neighbourhood, a review of advertising, or just a general conversation about the market. These are sometimes difficult calls to make if the activity has not been good. However, we know that you need information in order to make decisions on pricing and offers. Our goal is to have you ready for that moment when you will need to act. 

And remember, our business is built on great service and happy clients relationships – we’re always on the look-out for your referrals to friends and family.

SALES THIS PAST WEEK: 5

NEW LISTINGS: 16

CURRENT LISTING COUNT: 1185 (HISTORICAL LOW - 745; HISTORICAL HIGH: 1390

SALES TO LIST RATIO:3% (UNDER 15% FAVOURS BUYERS; 15-22% BALANCED; 22+ FAVOURS SELLERS)

Have you seen our Kiosk in Sechelt’s Trail Bay Mall? RE/MAX Oceanview Realty is the only office on the Coast to operate a Real Estate Kiosk separate from its’ main office. This Kiosk is located in one of Sechelt’s highest foot traffic areas, and features an agent on duty and picture displays of our listings. We’re proud of this added benefit we’re able to offer our clients. Their listings get added exposure and our agents also get an opportunity to connect with the community, one on one. The RE/MAX Oceanview Realty Kiosk at Trail Bay Mall in Sechelt – another reason we’re the top selling office on the Coast every year since 1996.

SALES THIS WEEK: 14 (DET'D: 11; ATT'D: 1; LAND: 2)

NEW LISTINGS: 16

LISTING COUNT: 1185 (HISTORICAL LOW - 745; HISTORICAL HIGH - 1390)

SALE TO LIST RATIO: 7.5% (UNDER 15% FAVOURS BUYERS; 15-22% BALANCED; 22+% FAVOURS SELLERS)

SALES THIS PAST WEEK: 9 (DET'D 6; ATT'D 2; LAND 1)

NEW LISTINGS: 20

CURRENT LISTING COUNT: 1196 (HISTORICAL LOW - 745; HISTORICAL HIGH - 1390)

SALES TO LISTING RATIO: 4% (UNDER 15% FAVOURS BUYERS; 15-22% BALANCED; 22%+ FAVOURS SELLERS)

Everyone knows what Realtors do for a living: lawn signs, open houses, ads in the paper... But what they don't see are the hours we spend each day honing our contract skills and following the market so we can properly advise our clients. This is the real difference we bring as full service Realtors. Advice. Buying or selling your home is likely your most important financial transaction. You cannot afford any mistakes. The advice we give on pricing, terms, dates, etc., is where you'll find our real value.

SALES THIS PAST WEEK: 12 (DET'D 9; ATT'D 2, LAND 1)

NEW LISTINGS: 32 (HISTORICAL LOW: 745, HISTORICAL HIGH 1390)

CURRENT LISTING COUNT: 1200

SALES TO LIST RATIO: 6% (UNDER 15% FAVOURS BUYERS, 15-22% BALANCED, 22%+ FAVOURS SELLERS

Occasionally some of our sellers ask us not to put up a "for sale" sign. There can be various reasons, including not wanting the neighbours to know the home is for sale. However, our sign is still one of the best sales tools we have. Motivated buyers often regularly drive through their favourite neighbourhoods looking for new listings. When these buyers call, it often results in showings and offers. And it's also important that it's not just any sign – first impressions are lasting! A RE/MAX sign on your lawn tells everyone you’re serious about selling and that you’re with the most successful real estate organization in the world.

SALES THIS WEEK: 16 (DET'D 12; ATT'D 2; LAND 2)

NEW LISTINGS: 29

CURRENT LISTING COUNT: 1272 (HISTORICAL LOW - 745; HISTORICAL HIGH - 1390)

SALES TO LIST RATIO: 7.3% (UNDER 15% FAVOURS BUYERS; 15-22% BALANCED; 22%+ FAVOURS SELLERS)

As we move toward the winter months, sellers sometimes ask us whether they should keep their home listed. After all, they ask, aren't there fewer sales in the winter months? While this may be true, there are also fewer listings and this can present sellers with an opportunity. We know from experience that sales happen all year long, including late fall and winter. Some sellers find success at this time because there aren't so many other homes on the market. One thing is for sure: if you’re not listed, you have no chance for a sale!

SALES THIS PAST WEEK: 15 (DET'D 12, ATT'D 2, LAND 1)

NEW LISTINGS: 28

TOTAL LISTINGS: 1245 (HISTORICAL LOW: 745, HIGHEST: 1390)

SALES TO LIST RATIO: 7.3% (UNDER 15% FAVOURS BUYERS, 15-22% IS BALANCED, 22%+ FAVOURS SELLERS

We understand that commissions represent a sizable cost to sellers. Some would say they're too high. But if that's true, you would expect the numbers of Realtors to have increased over time. Actually, our numbers are down over 30%. Real estate is a high risk, high expense profession. The commission we earn on today's sale must also cover all the unpaid work we did yesterday. Answering questions about commission is a normal part of our Marketing Plan. Ask us for a copy. 

SALES THIS PAST WEEK: 13 (10 DET'D, 3 ATT'D, O LAND

NEW LISTINGS: 15 (TOTAL LISTINGS 1282)

SALES TO LIST RATIO: 4% (15% and under favours buyers, 15 - 22% is balanced, over 22% favour sellers)

Did you know, more than 1/3 of all buyers found their properties through referrals from their Realtors? It makes sense, when you think about it. We make our living by knowing the market inside & out and making recommendations to our clients. As a matter of fact, we often sell new listings that aren't even advertised yet. This is why you should begin your search for property by finding a Realtor to work with. Tell us what you're looking for. Let us put our market knowledge and years of experience to work for you. 

There were 13 sales on the Sunshine Coast, Oct 2 - 8, inclusive

SALES:     7 detached homes, 4 attached, and 2 land.

PRICE RANGE: 0 - $300K: 6 sales;         $300K - 500k: 4 sales;          $500K - $1M: 2 sales;        $1M+: 1 sale

AREA: PENDER HARBOUR: 2;   HALFMOON BAY: 0;   SECHELT: 7;   ROBERTS CREEK:0;   GIBSONS: 4

NEW LISTINGS: 35

CURRENT LISTING COUNT: 1301 [LOW: 745, HIGH 1390]

SALES TO LIST RATIO: 4.5%  [0 -15% favour Buyers, 15 - 22% is balanced; 22%+ = Seller's market]

As the 3rd quarter of 2012 draws to a close, we can report that the numbers of sales on the Sunshine Coast is up 5.5% over this time last year. However, we also note that prices across most categories have dropped 5 - 7%. How can sales increase, but prices go down? The market is largely driven by supply and demand. We still have a large supply of listings. Even though the demand has increased, it still has not reached a level sufficient to stabilize prices. 

Real estate contracts, like everything else these days, have become far more complex. What used to take 1 or 2 pages "back in the day" now requires 10 pages or more.

It’s no longer just about property and price. We now must cover off issues pertaining agency, remuneration and identity verification, in addition to the inspections and other due diligence steps that have become a part of our practice. BC's real estate market is extremely active and dynamic. That means we're often leaders in legislation and regulation. The result is, our real estate laws and procedures are among the most comprehensive in the world and that has led to lengthy, complex contracts of purchase and sale.

The good news is, drafting and understanding contracts is part of what we do for a living. It's our job to represent you and protect your interests. This is the heavy lifting – let us handle it!

SALES THIS WEEK: 13 (DET'D: 8; ATT'D: 5; LAND: 0)

NEW LISTINGS: 27

CURRENT LISTING COUNT: 1278 (HISTORICAL LOW - 745; HISTORICAL HIGH - 1396)

SALES TO LIST RATIO: 5% (UNDER 15% FAVOURS BUYERS, 15-22% BALANCED, 22+% FAVOURS SELLERS

As we near the end of our 3rd quarter, we're pleased to report that RE/MAX Oceanview is still the top selling office on the Sunshine Coast. That goes for the 1st and 2nd quarters of 2012, too. And every quarter, as a matter of fact, stretching back to 1996! What's that commercial on TV? Outstanding Agents, Outstanding Results? We prove that message is true, year after year, here at RE/MAX Oceanview.  If our record means anything, it's this: when it comes to helping people buy and sell real estate on the Sunshine Coast, no one does it better than we do. So, why not start at the top? Why not call us first and get it right, the first time around!

SALES THIS WEEK: 9 (DET'D: 7; ATT'D: 1; LAND: 1)

NEW LISTINGS: 18

LISTING COUNT: 1362 (HISTORICAL LOW - 745; HISTORICAL HIGH - 1390)

SALES TO LIST RATIO: 4% (UNDER 15% FAVOURS BUYERS, 15-22% BALANCED; 22%+ FAVOURS SELLERS)

We are often asked why we don’t advertise more off-Coast in some of the major newspapers and magazines. It’s because we’ve found that the INTERNET reaches far more buyers. Realtors have spent millions of dollars developing MLS – a system where all brokers pool their listings and cooperate with one another to sell them. We’ve put this system on-line. At the click of a mouse, our listings are available for viewing by any buyer, at anytime, anywhere in the world. This is our preferred method of marketing, simply because it works. The fact is, most people use Realtors to buy property. If you also remember that Realtors use MLS as their primary source for listing information, you then realize that by listing MLS you reach all the Realtors and, therefore, all their buyers. 

SALES THIS WEEK: 12 (DET'D 8; ATT'D 3; LAND: 1)

NEW LISTINGS: 41

LISTING COUNT: 1363 (HISTORICAL LOW - 745; HIGH - 1390)

SALES TO LIST RATIO: 4.5% (UNDER 15% FAVOURS BUYERS; 15-22% BALANCED; 22%+ FAVOURS SELLERS)