The Vancouver real estate market has trended below historical averages for a full year now. Last month’s sales were the second lowest February total in the region since 2001, and the figures were 30.9 per cent below the ten-year sales average for the month.
Eugen Klein, Real Estate Board of Greater Vancouver (REBGV) president, confirms:
Sales in February followed recent trends and were below seasonal averages, though our members tell us they saw more traffic at open houses last month compared to the previous six to eight months.
Price tags on homes in Canada jumped 19 per cent in December from a year earlier and housing prices are on pace to climb another 5.4 per cent to a new all-time record this year, according to the latest figures from the Canadian Real Estate Association.
Confidence in the Vancouver property market has been given official backing. In its annual property assessment posted Monday, independent Crown ageny B.C. Assessment has described the market as "remarkably stable".
Documenting your property and keeping a home inventory is a process in which you construct a detailed report that includes all the important personal items and valuables in your house. A home inventory is not only a key component for documenting insurance claims, but also helps with estate and financial planning.
Renting out a fully furnished property is a great idea, especially if you own a small apartment or condo. Due to the type of life styles of people who usually rent these types of properties, they usually look for homes ready to be occupied without having to buy anything. Nevertheless, before you will be able to enjoy the extra cash you make by renting a fully furnished property, there are plenty of decisions to be made and lots to think about.
How much will it cost you?
First of all you?ve got to determine how much you will have to pay up front to set it all up. Go through the listings of available fully furnished properties in your area. The properties should be as similar to yours as possible in size, location and furnishing. Once you have a pretty good idea of the rent that is usually charged for a fully furnished property such as yours, list everything that you would have to purchase in order to fall into the category of 'fully furnished'.
According to the RE/MAX report issued this summer, Generation X is taking over the recreational property markets in Canada this year, replacing the aging baby boomer generation as the main buying force.
What exactly is Generation X? Over the years, social scientists have developed the habit of giving fancy names to the generations of the 20th century. Dating of a particular generation depends on all the different political and cultural aspects of the period that influenced the upbringing of members of that generation. While baby boomers (those born in the period of mid 40’s late 50’s) were the most active buying force until just a few years ago, most of them have entered or are just about to enter retirement. At the same time, the children of baby boomers named as Generation X, now in their 30’s or 40’s, have finally got the financial ability to purchase recreational property at almost any price.