Compare home prices changes in our world.

Sept 1 2011
Local Fraser Valley residents have purchased far more R. E.
investments in Phoenix, Las Vegas or Palm Springs in the last year than they did locally, but those investments are long term and have yet to go up!

So don't you wonder how our home prices really compare to rest of the western world? This study examines the USA, Canadian and English markets since 2005.

Bottom line is that Richmond and Burnaby appear to have set the western world home price increase records in the last 7 months. Still today a new Bosa condominium project in the Metro town area with completion a few years ahead can sell out in just a few hours. How many of these Chinese investors will actually live in their Condos? I highly suspect that this could be a 50% - 70% speculation group with plans to flip the property far before it is ever occupied.

3 Countries,14 Cities Home-Price-Changes comparison


Richmond versus Abbotsford and Calgary Comparisons from the 2008 peak.

Here you can really notice the difference between our three market places

 

Aug 15 2011    Vancouver Market Finally Slows Down!!!  
The crazy Vancouver market finally drops after record setting price increases from White Rock to Port Moody.
For example, Burnaby's average single family home prices increased $200,000+ from $692,000 to $897,000 this year. Currently prices may have dropped $90,000 just in the last few weeks. (too few sales to be accurate)

 All of the Fraser Valley and Vancouver Market Reports
Index  Abbotsford,  Mission  ChilliwackLangley,  Surrey,  White Rock,    East vrs West  Richmond,  East Van,
           
North  VanBurnaby,  Coquitlam,  Maple Ridge

Now that the American debit issues and the stock markets appear to have stabilized, our consumer confidence should strengthen. Never before have we seen our market places just a few miles apart - like the Vancouver side of the Port Mann bridge on the Fraser Valley side - act like day and night.
  Note - The STR is the Sell-Through-Rate and Burnaby's peaked at ~46% of homes selling as a monthly rate and Abbotsford STR rate never did pass 14% this year.  (We need about 15%-20% to be stable)

West of Port Mann          East of Port Mann          

One of my listings in Burnaby has had possibly the most buyer activity in my 28 year career and a similarly priced home in Chilliwack has been nearly the slowest in my career.

Burnaby Listing: my record buyer activity                 Chilliwack Listing: my slowest buyer activity

 
 

 

Bottom line , probably each hour $$millions in Chinese money is landing at the Vancouver airport and getting injected into our Chinese Corridor housing, yet virtually none of this money is reaching the valley.

In our Abbotsford-Mission-Chilliwack area it is still a buyer's market. This is an investor's dream whereby some homes that have had no showings all year and need to sell will in fact sell for extremely good wholesale prices.

FixandFlipThem.com ....Announcing a new R.E. Service for you investor types. I have now set up a website that custom searches to find any new listed homes with renovation or development potential.  This page shows the new listings the second they happen for Mission, Aldergrove, Abbotsford, Chilliwack and Hope. Now if you want to fix and flip a home, re-zone, subdivide a lot and flip a home this is the spot. more details

Mortgage rate Increases promised just a few weeks ago are now probably going to go down as the Americans have agreed to hold these low rates for 2 more years.

The Future: Many baby boomers are retiring now and over the next 10 years. Many of them move from their single family lawn-needs-to-be-cut home to a multi-family maintenance free, smaller footprint lifestyle. So in general the multi-family homes should appreciate much more than the single family home. (pssst: time to plan ahead.)

The "Why We Love Living Here" neighborhood profile movies are going extremely well and proving to be one incredible marketing tool.. I am now marketing homes from Burnaby to New Westminster Mission, Abbotsford, and from Chilliwack to Agassiz. I have compiled an extremely large database of virtually all the 1,000s of Realtors that have sold homes throughout the lower mainland which is an amazingly effective marketing network.


Gift Card
, if you have already received your Bill Coughlin's Gift Card be sure to read the latest gifts (over $1,200) and activate your card. click here.


Boy oh boy the Chinese have really taken over Vancouver!

June 20  2011 w8c

, I think the Greater Vancouver area is now acting much more like a Chinese province and a financial arm of Beijing or Singapore that is totally independent of Canada's economics. Could anything on the west side of the Port Mann bridge including Port Moody double in a few more years?

Today, the old style of Real Estate Marketing is not working as we fight for every sale out here in the valley,  but wow has our YOUTUBE video marketing worked well!

           If a photo is worth a 1,000 words then a video is worth a 1,000 photos. Click below

This type of "WhyWeLoveLivingHere" marketing recently enabled us to set near 3 home sale records!

Our home on Century Cres. just sold:

  1. In 31 days (The average is about 75 days with as little as 11% actually selling in a month.)
  2. More $$  ~20,000 over BC assessment (Many sales are far than less than BC ASSMNT)
  3. Dinky discount.. We only came down $1,000 from list price (many drop $12,000-$20,000 to sell)
, If you or anyone you know needs some real estate help just call me.  1-778-374-3744

So today it is all about networking! You should see what we have done to connect other businesses with our Loyalty Gift Card program!


Burnaby and Coquitlam home prices are up $100,000+ and Richmond drops $105,000 in only 4-6 fast weeks!

April 15. 2011

..ok it is unofficial but the west side of the Port Mann is really just becoming a province of mainland China. About 30% of our buyers seem to come from the west and what happens there affects our home prices and real estate market here, so I make a point of understanding it.

The wave of buyers continues on to Burnaby and Coquiltam as the average home value has just gone up $100,000+ in the last 6 weeks. Now the Richmond homes have dropped $110,000- $160,000 in the last few weeks with large increases in listing inventories as speculators try and reap profits 

The Richmond single family detached residential market has just experienced some serious market manipulation with short term speculation. Back In January and February, we saw many homes purchased with longer completion dates and assignment rights. There has been a large contingent of speculators that purchased about 50 standard homes on normal sized lots and they are now offering many of these assignment sales contracts back up for resale at $100,000's more. The days of multiple offers and selling at the average of $49,000 over list with only 10 days on the market are gone. The current discount to sell this week is now averaging $28,000 below list and the average price based on sp/sqft is now down $110,000-$160,000 from the March 29 2011 peak.  With fast increasing inventories, MTI and poor sell through rate ( STR ) absorption this confined market in Richmond West of #3 road will now experience continued pressure on selling prices.

We are expecting a good sales volume in the next 8 weeks from mainland China and this extra inventory could be absorbed quicker than the current local demand indicates.


Minter Gardens Tulip show and "Slug Races" a fun flop!

Yes on April 17, many parka-clad enthusiasts  braved the sleet, the snow and the rain to witness the 1st International Slug Races and Tulip Show at Minter Gardens. Slight problems were: No sunshine as promised, No Slugs and No Tulips as they all went back into hiding after our recent snowfall. But still we all had a great time and we had a high tension race with earth worms substitutes. Joyce Schroeder was the final winner and accepted the nomination as the Slug Queen for 2011. She is available for any major events as our spokesperson if it includes 4 star accommodation for her and Calvin. Thanks Calvin for finishing the Slugs' Race track. Dave Morrison is well on the way to winning the photo contest. Click here to see photos.


 The Chinese Investors are Coming, 20%-33% price jump in 6 weeks! 

March 2 2011 w8c

Research shows that the Richmond Residential Market has jumped 20% - an all time price increase of nearly $158,000 for the average home in just 6 short weeks with no end in sight. full details Click for details    (daily increases could make it closer to 30% today)

Listen to the "Entrepreneur of the Week" podcast with the experts as to how this price surge could affect your home value and how you can make informed decisions. Click for more details


Market Update for Abbotsford, Mission and Chilliwack
Feb  5 2011 w8c

I just love analyzing the market conditions to help protect people's home investment and to help them make informed decisions.  For example, in East vs West Abbotsford you will see perhaps how these areas are affected quite differently. From July of 2009 to January 1, 2010, Townline Road in the West Abbotsford area has gone up $45,000 and yet Mountain Village in East Abbotsford has gone down $7,000. 

Right now Mountain Village is incredible value, with prices at $85,000 cheaper than East Abbotsford for the same 2,300 sq ft  house, or $115,000 cheaper for a 3,100 sq ft house. In fact Mountain Village is the same, or less expensive, than Mission right now but that is another story. Click for more details

So, if you need some help planning ahead, buying or selling real estate just call me and let's have coffee.


 

Bill shares his secrets on how to make money in this R.E. market.

A moving Market either Up or Down creates great opportunities to gain extra equity.

How did Bill manage to sell his home at the exact top of the market... what was his secret?

Hindsight is always 20/20, but now with my secret Market Trend Indicator, MTI, you can better understand the market projections and earn money in both Up and Down Markets!   details


Get paid for your neighborhood, not just your home

Neighborhood profile movies can really increase your selling price and they are a new service to help you, the buyers and all Realtors.   

Hear how many purchasers have out of town agents who don't know the neighborhood, and how you can get a higher sale price. details

 The Lower Mainland Real Estate Market Reports
Index  Abbotsford,  Mission  ChilliwackLangley,  Surrey,  White Rock,    East vrs West  
Richmond,
  East Van,  North VanBurnaby,  Coquitlam,  Maple Ridge


                                   
let's do Coffee! details
 
Bill Coughlin

"Realtor and Lifestyle Consultant"

1-888-539-4664 Toll free
   604-217-3992 cell       
    
  
Bill@coughlinteam.com     

 

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