About Linda Klein

DLC Weekly Rate Minder Courtesy of Dominion Lending

Ottawa, ON, December 15, 2014 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity was unchanged on a month-over-month basis in November 2014.

Highlights:

• National home sales were unchanged from October to November.
• Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels.
• The number of newly listed homes edged down 0.4% from October to November.
• The Canadian housing market remains balanced.
• The MLS® Home Price Index (HPI) rose 5.2% year-over-year in November.
• The national average sale price rose 5.7% on a year-over-year basis in November.

The number of home sales processed through the MLS® Systems of Canadian real estate

Boards and Associations was unchanged in November 2014 compared to October. As a result, activity remains much improved compared to the quiet start to the year.

November sales strengthened in half of all local housing markets, with monthly increases in Montreal, Edmonton, Winnipeg, Hamilton-Burlington, Barrie, and Windsor-Essex tempered by a monthly decline in the Greater Toronto Area.

“The Canadian housing market remains a story about how sales and prices are still running strong in some areas while others are seeing subdued levels of activity with slower price gains or modest price declines,” said CREA President Beth Crosbie. “All real estate is local and your REALTOR® remains your best source for information about how the housing market is shaping up where you currently live or might like to in the future.”

“The effect of lower oil prices on Canada’s housing markets is something of a wildcard at the moment,” said Gregory Klump, CREA’s Chief Economist. “It’s not clear how far oil prices may drop or for how long they’ll stay down. How that plays out may affect the outlook for interest rates, job growth, consumer confidence, and sentiment about making major purchases.”

Actual (not seasonally adjusted) activity in November stood 2.7 per cent above levels reported in the same month last year. November sales were up from year-ago levels in about half all local markets, led by Greater Vancouver and the Fraser Valley, Calgary, and Greater Toronto.

Actual (not seasonally adjusted) sales activity for the year-to-date in November was five per cent above levels in the first 11 months of 2013. It was also slightly above (+2.4 per cent) the 10-year average for year-to-date sales.

The number of newly listed homes edged down 0.4 per cent in November compared to October. Led by Greater Toronto, new supply was down in just over half of all local markets.

The national sales-to-new listings ratio was 56 per cent in November. While this is marginally tighter compared to the previous three months in which it averaged 55.7 per cent, the broader trend for the ratio indicates that it has remained balanced and largely stable for the past four months.

A sales-to-new listings ratio between 40 and 60 per cent is usually consistent with a balanced housing market, with readings above and below this range indicating sellers’ and buyers’ markets respectively.

The ratio was within this range in almost 60 per cent of all local markets in November. About 60 per cent of the remaining markets posted ratios above this range, almost all of which are located in British Columbia, Alberta and Southern Ontario.

The number of months of inventory is another important measure of the balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity.

There were 5.8 months of inventory nationally at the end of November 2014. As with the sales-to-new listings ratio, the number of months of inventory has been stable for the past four months and remains well within balanced market territory.

The Aggregate Composite MLS® HPI rose by 5.19 per cent on a year-over-year basis in November. Price gains have held steady between five and five-and-a-half per cent since the beginning of the year.

Year-over-year price growth decelerated among all property types tracked by the index in November compared to October.

Two-storey single family homes continue to post the biggest year-over-year price gains (+6.79 per cent), followed closely by townhouse/row units (+5.63 per cent). Price growth was comparatively more modest for one-storey single family homes (+4.20 per cent) and apartment units (+3.18 per cent).

Price growth varied among housing markets tracked by the index. As in recent months,

Calgary (+8.53 per cent), Greater Toronto (+7.73 per cent), and Greater Vancouver

(+5.69 per cent) continue to post the biggest year-over-year increases. By contrast, prices in Regina declined by 3.36 per cent.

In other markets from West to East, prices were up between 1.6 and 2.8 per cent on a year-over-year basis in the Fraser Valley, Victoria, and Vancouver Island, by less than one per cent in Saskatoon and Ottawa, flat in Greater Montreal, and down by less than one per cent in Greater Moncton (Table 1).

The MLS® Home Price Index (MLS® HPI) provides a better gauge of price trends than is possible using averages because it is not affected by changes in the mix of sales activity the way that average price is.

The actual (not seasonally adjusted) national average price for homes sold in November 2014 was $413,649, up 5.7 per cent from the same month last year.

The national average home price continues to be raised considerably by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s most active and expensive housing markets. Excluding these two markets from the calculation, the average price is a relatively more modest $331,743 and the year-over-year increase shrinks to five per cent.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 109,000 REALTORS® working through some 90 real estate Boards and Associations.

DLC Weekly Rate Minder Courtesy of Dominion Lending

Autumn brings with it shorter days and colder nights which can add up to increased electric costs. Finding a way to save money, and, keep your home warm and well lit will no doubt be a priority with most homeowners. One way to save is to replace incandescent and CFL light bulbs with LED bulbs. LED bulbs are considered direct replacements for the 175-year-old incandescent bulb and the more modern, environmentally unfriendly, CFL bulb.

Here are a few reasons why LED bulbs are better.

1. Energy Efficiency. One 11.5-watt LED bulb emits as much light as a standard 60-watt incandescent bulb. That means five LED bulbs still use less electricity than a single incandescent lamp.

2. Replacement. Incandescent bulbs typically have a life of no more than 1,000 hours, while LED bulbs may have 40,000 hours of life.
That is 40 times more.

3. Instant Start. CFL bulbs have a warm-up period each time you turn them on. LED bulbs turn on at full brightness.

4. Dimmable. LED products are fully dimmable and are compatable with more than 100 different dimmer switches. CFL bulbs may be dimmable but still have a flicker tendency.

5. Disposal. It is safe to place LED bulbs in the garbage, after they burn out. CFL bulbs contain mercury and must be recycled through using the correct facilities.

6. Heat. LED bulbs emit very little heat. CFLs and incandescent bulbs waste 80 to 90 per cent of their energy in heat. LED bulbs typically waste no more than 50 percent of their energy on heat and are far cooler to the touch.

1. Shower Spa – Seek a serene, spa-like shower environment with a curb-less design for a spacious perfect and open shower experience.

2. Open It Up – Open plan kitchens are expanding even further with glass front cabinets and open shelving units to give the feel of even more space.

3. Smart Sensors – Using Environmentally – friendly Smart Thermostats save energy by automatically adjusting the temperature based on your daily routine.

4. Back to Nature – Add value and comfort by blending indoor and outdoor living space. All-weather furniture and outdoor fireplaces are top picks.

5. U-Sockets – The smallest upgrade can make the biggest difference! U-sockets are wall plugs with two built-in USB ports that can be used to power devices such as tablets and smartphones.

The average home is shrinking now that our urban centres are getting so dense. But this should not get in the way of enjoying your small home, condo or cottage. Here are some tricks to optimize all available space.

1. Use a light, neutral palette on the walls to give your home a larger feel. Amplify natural light in your space with lighter colors. Use a second color from the same palette to break up an open space into more distinct areas. 2. Play with brighter colors in the details to avoid a bland or clinical feel. Use colorful accent pillows or artwork to add some more punch. 3. Avoid clutter to help a room appear more spacious. Keep everything tucked away while it is not in use to make your space less congested. 4. Protect it from the sun. For carpet in a sunny area, close the drapes to prevent fading. 4. Make multi-functioning furniture choices. A headboard could double as a bookcase. Furniture that has built-in storage is a plus – one more space to tuck things away.

Prime Rate is 3.00% Variable rate mortgages from as low as Prime minus 0.65%

Courtesy of Starr Webb  Dominion Lending

September 2014

Kamloops Residential Sales by Sub-Area – Monthly – September 2014

1. Sahali                           21
2. Brocklehurst               20
3. South Kamloops         19
4. Aberdeen                     19
5. Westsyde                     16
6. North Kamloops         11
7. Sun Rivers                     6
8. Juniper Heights            5
9. Batchelor Heights        3

SOURCE: Kamloops and District Real Estate Association

Top 7 Areas

Brocklehurst          74 Sales

Sahali                      72 Sales

Aberdeen                65 Sales

South Kamloops   64 Sales

Westsyde                53 Sales

North Kamloops   40 Sales

Juniper                    26 Sales

Total Sales in Kamloops 3rd Quarter 565

THOMPSON-OKANAGAN – Attention all sky-watchers, the last supermoon of 2014 will cruise across the night sky on Sunday.

The moon will be 358,398 kilometers from earth making it about 15 per cent brighter and roughly 7 per cent larger, according to National Geographic. Since the distance to earth is 50,000 kilometres closer than other full moons, it’s get the supermoon monicker.

A supermoon happens during the monthly full moon or perigee when it’s egg shaped orbit takes the moon to its closest point to the earth.

“While this is nothing special from a science perspective, it is no doubt very poetical and very romantic,” Adler Planetarium astronomer Geza Gyuk tells National Geographic.

Getting a good view of the supermoon depends on the weather where you are Sunday night since the orb will be visible all night. The Environment Canada forecast for the Thompson and Okanagan regions is calling for partly cloudy skies Sunday evening so weather shouldn’t be an issue.

For the best photos and viewing, it’s recommended you get outside just after sunset when the sky is getting dark. Apparently that’s when the super moon will be at it’s most dramatic.

There were two other supermoons this summer, with the one on Aug. 10 being the brightest and the closest.