18th Annual Sutton Salmon Barbeque raises more than $30,000

Posted on July 18, 2012 by Alisa Sakamoto

18th Annual Sutton Salmon Barbeque raises more than $30,000

Richmond, BC – For the eighteenth year in a row, Sutton Group – Seafair Realty was proud to host the salmon barbeque at the Steveston Salmon Festival. This popular Canada Day event began in 1945 when the region’s main industry was fishing. This year, an estimated 70,000 people from Richmond, Metro Vancouver and beyond celebrated Canada’s birthday by enjoying a parade, musical performances, a crafts fair, an art show and lots of food. Over 40 REALTORS® from Sutton Group – Seafair Realty offices in Richmond and Delta along with their families and friends volunteered to grill and serve 1,200 pounds of salmon for hungry visitors. They sold every piece of salmon available!

This year’s barbeque raised approximately $30,000 for various children’s and seniors’ programs at the Steveston Community Centre. “We are had a great Sutton team effort,” says REALTOR® Jim Hinchcliffe, who has organized this event since 1994.

Rain or shine, Sutton REALTORS® fire up the barbeques on Canada Day at around 11 a.m. and keep grilling into the early evening. Their alder wood-barbequed salmon, Sutton t-shirts and aprons, smiling faces and enthusiasm are always welcome attractions. This July 1^st, approximately 2,000 people enjoyed an expertly prepared salmon fillet served with salad and a bun.

Jim notes that salmon fishing is an aspect of Canadian heritage appreciated by people from all cultures and backgrounds. In addition to local and national news coverage they were filmed by television crews from Indonesian and Chinese language stations.

“Participating in this event gives our office exposure to the community while raising money for a great cause close to home,” Jim notes.

“We’re happy to report that over the past 18 years, our efforts have helped to raise more than $250,000 for programs at the Steveston Community Centre.”

Sutton is a 100% Canadian-owned and operated company with more than 9,000 REALTORS® in over 200 offices nationwide. To find out more about Sutton, visit www.sutton.com. To learn more about Sutton Spirit, visit www.suttonspirit.com.

Courtesy of Sutton Spirit

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Repurposed Organizers: Cake Stands

Posted on July 16, 2012 by Alisa Sakamoto

TOILETRY STAND

De-clutter bathroom counters by gathering essentials like soap, candles and toilet paper on a cake stand. If you take off your rings before hand washing, add a small dish to hold them.

Toiletry Organizer

Source: Home Made Simple.

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Ready to Bring Instant Style + Serenity to Your Home?

Posted on July 7, 2012 by Alisa Sakamoto

Of all the ways to decorate a room, candles are a personal favourite. That’s because they tickle the senses while adding ambience and drama to a room.

candle

They bring a sense of occasion to even the most ordinary of moments and remind us that our home is our sanctuary; an oasis of repose. Gone are the days when candles merely served to illuminate your home. Nowadays, they are as decorative as a framed piece of artwork, designed to complement a wide range of styles and personalities.

Source: Style At Home

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June stats are here...

Posted on July 3, 2012 by Alisa Sakamoto

Greater Vancouver housing market favoured buyers in June

The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 2,362 in June, a 27.6 per cent decline compared to the 3,262 sales in June 2011 and a 17.2 per cent decline compared to the 2,853 sales in May 2012.

June sales were the lowest total for the month in the region since 2000 and 32.2 per cent below the 10-year June sales average of 3,484.

“Overall conditions have trended in favour of buyers in our marketplace in recent months,” Eugen Klein, REBGV president said. “This means buyers are facing less competition and have more selection to choose from compared to earlier in the year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,617 in June. This represents a 3 per cent decline compared to June 2011 when 5,793 properties were listed for sale on the MLS® and an 18.9 per cent decline compared to the 6,927 new listings reported in May 2012.

At 18,493, the total number of residential property listings on the MLS® increased 22 per cent from this time last year and increased 3.7 per cent compared to May 2012.

“Today, our sales-to-active-listings ratio sits at 13 per cent, which puts us in the lower end of a balanced market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.

The MLSLink® Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 1.7% and declined 0.7% compared to last month.

Sales of detached properties on the MLS® in June 2012 reached 921, a decrease of 37.4 per cent from the 1,471 detached sales recorded in June 2011, and a 19.1 per cent decrease from the 1,139 units sold in June 2010. The benchmark price for detached properties increased 3.3 per cent from June 2011 to $961,600.

Sales of apartment properties reached 1,026 in June 2012, a 19 per cent decrease compared to the 1,266 sales in June 2011, and a decrease of 18.4 per cent compared to the 1,258 sales in June 2010. The benchmark price of an apartment property increased 0.3 per cent from June 2011 to $376,200.

Attached property sales in June 2012 totalled 415, a 21 per cent decrease compared to the 525 sales in June 2011, and a 27.8 per cent decrease from the 575 attached properties sold in June 2010. The benchmark price of an attached unit decreased 0.1 per cent between June 2011 and 2012 to $468,400.

Courtesy of the Real Estate Board of Greater Vancouver

For the full stats package please feel free to email me at asakamoto@sutton.com

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8 Mistakes to Avoid When Buying a Home

Posted on June 27, 2012 by Alisa Sakamoto

You’ve been saving for awhile, weighing your options, looking around casually. Now you’ve finally decided to do it—you’re ready to buy a house! The process of buying a new home can be incredibly exciting, yet stressful, all at once. Where do you start?

It is essential you do your homework before you begin. Learn from the experiences of others, do some research. Of course, with so many details involved, slip-ups are inevitable. But be careful: learning from your mistakes may prove costly. Use the following list of pitfalls as a guide to help you avoid the most common mistakes.

Searching for houses without getting pre-approved by a lender:

Do not mistake pre-approval by a lender with pre-qualification. Pre-qualification, the first step toward being pre-approved, will point you in the right direction, giving you an idea of the price range of houses you can comfortably afford. Pre-approval, however, means you become a cash buyer, making negotiations with the seller much easier.

Allowing “first impressions” to overly influence your decision:

The first impression of a home has been cited as the single most influential factor guiding many purchasers’ choice to buy. Make a conscious decision beforehand to examine a home as objectively as you can. Don’t let the current owners’ style or lifestyle sway your judgment. Beneath the bad décor or messy rooms, these homes may actually suit your needs and offer you a structurally sound base with which to work. Likewise, don’t jump at a home simply because the walls are painted your favourite colour! Make sure you thoroughly investigate the structure beneath the paint before you come to any serious decisions.

Failing to have the home inspected before you buy:

Buying a home is a major financial decision that is often made after having spent very little time on the property itself. A home inspection performed by a competent company will help you enter the negotiation process with eyes wide open, offering you added reassurance that the choice you’re making is a sound one, or alerting you to underlying problems that could cost you significant money in both the short and long-run. Your Realtor can suggest reputable home inspection companies for you to consider and will ensure the appropriate clause is entered into your contract.

Not knowing and understanding your rights and obligations as listed in the Offer to Purchase:

Make it a priority to know your rights and obligations inside and out. A lack of understanding about your obligations may, at the very least, cause friction between yourself and the people with whom you are about to enter the contract. Wrong assumptions, poorly written/ incomprehensible/ missing clauses, or a lack of awareness of how the clauses apply to the purchase, could also contribute to increased costs. These problems may even lead to a void contract. So, take the time to go through the contract with a fine-tooth comb, making use of the resources and knowledge offered by your Realtor and lawyer. With their assistance, ensure you thoroughly understand every component of the contract, and are able to fulfill your contractual obligations.

Making an offer based on the asking price, not the market value:

Ask your Realtor for a current Comparative Market Analysis. This will provide you with the information necessary to gauge the market value of a home, and will help you avoid over-paying. What have other similar homes sold for in the area and how long were they on the market? What is the difference between their asking and selling prices? Is the home you’re looking at under-priced, over-priced, or fair value? The seller receives a Comparative Market Analysis before deciding upon an asking price, so make sure you have all the same information at your fingertips.

Failing to familiarize yourself with the neighbourhood before buying:

Check out the neighbourhood you’re considering, and ask around. What amenities does the area have to offer? Are there schools, churches, parks, or grocery stores within reach? Consider visiting schools in the area if you have children. How will you be affected by a new commute to work? Are there infrastructure projects in development? All of these factors will influence the way you experience your new home, so ensure you’re well-acquainted with the surrounding area before purchasing.

Not looking for home insurance until you are about to move:

If you wait until the last minute, you’ll be rushed to find an insurance policy that’s the ideal fit for you. Make sure you give yourself enough time to shop around in order to get the best deal.

Not recognizing different styles and strategies of negotiation:

Many buyers think that the way to negotiate their way to a fair price is by offering low. However, in reality this strategy may actually result in the seller becoming more inflexible, polarizing negotiations. Employ the knowledge and skills of an experienced realtor. S/he will know what strategies of negotiation will prove most effective for your particular situation.

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Federal Government Changes to Mortgage Lending

Posted on June 26, 2012 by Alisa Sakamoto

The Federal Government has announced action to restrict mortgage credit. Beginning July 9, 2012 the new mortgage rules will take affect. The new measures include:

The maximum amortization on a prime mortgage will be reduced from 30 to 25 years.
Mortgage insurance will not be provided for properties valued over $1 million.
Refinancing has been lowered from a maximum of 85% loan-to-value to a maximum of 80% loan-to-value.
The maximum gross debt service (GDS) and total debt service (TDS) will be limited to a maximum of 39% and 44% respectively. Currently, GDS does not apply to qualified borrowers with credit scores over 680.

How does this affect you?

This affects purchasers with less than 20% down payment

You will now qualify for significantly less

A family with $65,000 in income and no debt with 5% down could previously buy a home for about $525,000. Now they can only spend about $410,000

*Using today’s 3.09%.

This qualification would be significantly less if you choose a VRM (variable rate mortgage) or term of less than 5 years

For more information, here’s the government’s Q and A document:www.fin.gc.ca/n12/data/12-070_2-eng.asp

If you are considering purchasing a new home or refinancing/renewing your current mortgage, I highly recommend you act before July 9^th!

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