According to Reuters News nearly 20 percent of home owners owe more on their homes than their properties are worth, finds a new study by First American CoreLogic.
About 8.31 million properties were underwater at the end of 2008, up 9 percent from 7.63 million at the end of September.
Corelogic predicts about 2.16 million properties will [...]
Archive for the ‘Market Update’ Category
Study Finds 20% of Mortgages Underwater
Posted in Market Update on March 4, 2009 | Leave a Comment »
Economy Delays Home Buys for 27% of Homeowners
Posted in Market Update on November 18, 2008 | Leave a Comment »
While this poll was conducted in the U.S. I am sure the results would be similar in Canada.
More than one-quarter (27%) of American homeowners say that the current economic environment is causing them to put their plans to buy a new or existing home on hold, according to a new Ipsos Public Affairs poll conducted [...]
BC 2008 Housing Forecast
Posted in Market Update on November 3, 2008 | Leave a Comment »
The British Columbia Real Estate Association (BCREA) released its fall 2008 Housing Forecast today.
The BC Multiple Listing Service® (MLS®) residential sales are forecast to decline 28 per cent from 102,805 units in 2007 to 73,700 units this year. A modest 4 per cent increase to 76,500 units is forecast for 2009.
The average MLS® residential price [...]
Some U.S. Housing Markets Still Thriving
Posted in Market Update on October 7, 2008 | Leave a Comment »
Forbes magazine examined the top 100 most expensive ZIP codes in the United States and concluded that most saw strong price appreciation in the last 12 months.
Here are the top-10 most expensive ZIP Codes and the median home sales prices:
1. Fisher Island, Fla., Miami-Dade County, 33109. Median sales price: $3.85 million
2. Alpine, N.J. Bergen County, [...]
Urban Real Estate Values Set To Plunge
Posted in Market Update on September 9, 2008 | Leave a Comment »
A real estate finance expert at UBC’s Sauder School of Business is predicting that home values in most of Canada’s urban centres are about to plunge.
A new study shows homes in most urban centres except Toronto and Edmonton are overvalued, priced up to 25 per cent higher than they should be to balance with rents.
The [...]
North Vancouver Real Estate – New Listings Week of Sept 1/08
Posted in Market Update on September 6, 2008 | Leave a Comment »
#508-1327 E. Keith
$278,000
#414-175 W 1st St
$279,900
245 St. Davids
$289,900
#103-357 E. 2nd St
$299,000
#213-223 Mountain Hwy
$349,000
1255 Plateau Dr
$354,900
#202-325 W. 3rd St
$359,000
#1108-2024 Fullerton Ave
$488,000
#201-1513 Bowser
$559,000
1247 Dogwood Cr
$669,000
#17-550 Browning Pl
$669,900
306-3980 Inlet Cr
$679,000
1261 Chamberlain Rd
$699,900
303 E. 26th St
$739,000
1643 Evelyn St
$748,000
1201 Doran
$769,000
45242 Prime St
$769,000
2590 Lloyd Ave
$859,000
459 West 29th St
$885,000
1035 Beaumont Dr
$945,000
#1303-1320 Chesterfield Ave
$949,000
1037 Chamberlain Dr
$949,900
930 Beaconsfield
$968,000
#1604-1320 Chesterfield
$1,030,500
2965 St. Kilda
$1,198,000
5369 Malispina
$1,299,000
427 E. 7th [...]
Mexico Second-Home Market Still Sunny
Posted in Market Update on September 4, 2008 | Leave a Comment »
Americans’ appetite for second homes in Mexico remains strong, says Carlos Garza, CEO of Texas-based INB Financial Corp., which started offering cross-border mortgages last year.
Evidence of the demand: Mexico’s top bank, BBVA Bancomer has made about $115 million in loans to Americans and Canadians so far this year and has a full-year goal of $200 [...]
British Columbia home sales at 10 Year Low
Posted in Market Update on August 28, 2008 | Leave a Comment »
Home sales in British Columbia fell to their lowest level in a decade during July amid a rising number of for-sale inventory and increasingly cautious buyers, according to a report this month in The Vancouver Sun.
Sales through the multiple listing service totaled 6,541 units last month, a drop of 37 percent from a year ago. [...]
Number of Homes for Sale in North Vancouver – July 2008
Posted in Market Update on July 10, 2008 | Leave a Comment »
If a picture is worth a thousand words then click on the picture below to see that there are 1,069 detached and attached homes for sale in North Vancouver. The last time there were that many homes for sale in North Vancouver was in 2000.
It’s Official – It’s a Buyer’s Market!
Posted in Market Update on July 4, 2008 | Leave a Comment »
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in June 2008 to 2,425 from the 4,244 sales recorded in June 2007.
New listings for detached, attached and apartment properties increased 18.3 per cent to 6,546 in June 2008 compared to June 2007, when 5,533 [...]
