Canadian resale home prices rise again in May/11

Home resale prices rose in March for a fourth straight month as prices rose in five of six metropolitan markets, according to a report on Wednesday.
The Composite House Price Index, which measures price changes for repeat sales of single-family homes in six metropolitan areas, showed overall prices were up 0.6 percent in March from February.
Overall prices were up 4.1 percent from a year earlier. The index tracks home prices over time for repeat sales, so properties with at least two sales are required in the calculations.

The report did not provide actual prices.

Housing Starts in Canada...Up,Up And Away!

Canada Mortgage and Housing Corp (CMHC) raised its forecast for 2011 housing starts on Monday, citing an improving economy and still-low interest rates. In a second-quarter housing outlook, the federal housing agency also forecast higher existing home sales than industry group Canadian Real Estate Association (CREA). It said it expected housing starts to total 179,500 units this year, then climb to 185,300 units in 2012.
In February, CMHC had said it expected 2011 housing starts of 177,600, rising to 183,800 in 2012. New Canadian government regulations are expected to take the heat off the housing market, once the main source of Canada's economic growth. The latest changes, aimed at mortgage amortization and refinancing, came into effect in the spring. "We are expecting new and existing housing markets to fall in line with demographic fundamentals, as changes to mortgage rules take hold," said Bob Dugan, chief economist for CMHC. Additionally, Canadian interest rates are expected to stay low for a little while longer despite Monday's data that showed Canadian growth accelerated to almost 4 percent in the first quarter. Second-quarter growth is expected to be around half of that.
The Bank of Canada will raise interest rates some time in the third quarter, in either July or September, a Reuters survey last week showed. CMHC predicted existing home sales of 452,100 units this year, which would be 1.16 percent above the 2010 tally of 446,936 units.

That is also slightly ahead of CREA, which sees 2011 sales dipping 1.3 percent to 441,100 units from 2010. In 2012, CMHC sees sales moving up to 461,300 units, also higher than CREA's forecast of 452,500 units. Both groups say the recent increase in the average national price reflected strong sales in Vancouver's resale market. CMHC expects the average price to moderate for the remainder of the year but gave no figure.

If it smells, it doesn't sell!

There truly is an adage in the real estate industry of “if it smells, it doesn’t sell”. A great article for dealing with pet odors is at this link. This is something that, as a real estate agent, I run across frequently. With the number of cases of asthma and allergies rising in the US it’s even more important that pet owners be good about cleaning odors and allergens from their homes before and during the time they sell.

Allergies are pretty common and if a person walks in your house and is hit with the smell and/or allergic effects of a pet you can bet that this is where the home tour ends. No one will push their way through an allergic or asthma attack to see your house. A thorough cleaning is in order and you’ll want to be super-vigilant during the time your house is on the market to keep hair and dander levels down. If it makes sense to replace the carpet before going on market, and maybe sending the pup to a friend or family member’s house for a week, you should consider it.

From the new buyer’s perspective (and an agent’s) it’s not fun to walk into a house just to be met with a dog that you don’t know if it will be aggressive. Plus a portion of the population is also phobic of dogs – no matter the size. If the dog hears the agent getting the keys and unlocking the door most likely, if left loose in the house, the dog will be at the door. If barking is involved it’s possible that the prospective buyer or agent may say “let’s just pass on this one” for fear of what could happen as soon as the door is opened. Believe me, liability is an issue we all have to deal with on a regular basis. Just because your pet is usually very sweet and loving to you doesn’t mean that it will be to every stranger that comes into the house. Most pets are territorial by nature and you don’t want to get hit with a lawsuit for a dog bite just as you’re trying to sell your house. The number one insurance claim each year for residential property is dog bites

Inspired by the Great and Grand 1920's estates-Palm Beach

A masterful new Estate Residence, just been completed on 175' of ocean front. Well over 20,000 SF of luxurious living on three floors, with more than half a dozen bedrooms including a sumptuous master suite with sitting room, fireplace, lounge, separate dressing areas & baths, which alone is over 3000 SF!
On the west, large loggias surround a garden courtyard that leads gracefully to the lush pool area. On the east, the oceanfront living room opens onto an ocean view patio with spectacular vistas of the Atlantic.
Far too many features to list here. This is true Ritz Carlton inspired elegance, certainly would be a recommended property by the Ritz.

 

World's smallest home...the size of most bathrooms!

We’re living in a world of records, many of them unknown to most of us, some of which absurd but others fascinating and worth having a look at. For some general trivia on houses and their extreme sizes, here are the smallest house and the biggest one in the world.
On the outskirts of Sebastol, this small house has been a childhood dream for artist builder Jay Shafer that created it. The entire house has only 96 square feet, basically smaller than most of people’s bathrooms. It is equipped with a stainless-steel kitchen, customized storage and has a classy wood interior. The artist’ next dream is to create a community of such small houses, connected by walking paths, having the same shrunk size as the homes.

On the other hand, the biggest house in the world belongs to royalty, as you might have guessed. The world’s biggest house is Windsor Castle, located in England, Berkshire, with a surface of around 484,000 square feet (about 45,000 square meters). Having its structure changed over the centuries, the castle now occupies 13 acres of land, having 1,000 rooms. Along with Buckingham Palace in London and Holyrood Palace in Edinburgh, Windsor Castle is one of the principal official residences of the British monarch. The resident is Queen Elizabeth II that made the castle her home beginning with 1952.