As you probably noticed, some of the percentage changes are quite large. Typically, in December and in the summer months when there are much fewer home sales, the average price in a category can be skewed by a small number of lower-priced or higher-priced properties selling in the same month.  Just like a stock on the stock market can have many up and down deviations in the short term but in the longer term have an upward (or downward) slope. It’s the long term trend that we are most interested in as home buyers/owners/investors.

Click HERE to see the previous chart for June to July 2010.

VANCOUVER, B.C. – September 2, 2010 –

Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in
Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August
2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential
sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline
compared to August 2006’s 2,998 sales.

New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010
compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at
15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.

“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace,
all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few
months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend
after reaching record highs in April.”

Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the
residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI)
benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010
from $539,600 in August 2009.

“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater
Vancouver housing market,” Moldowan said.

Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales
recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008. The benchmark price for
detached properties increased 8.5 per cent from August 2009 to $795,076.

Sales of apartment properties reached 935 in August 2010, a decline of 36.1 per cent compared to the 1,464 sales in
August 2009 and an increase of 26.4 per cent compared to the 740 sales in August 2008.The benchmark price of an
apartment property increased 4.5 per cent from August 2009 to $385,968.

Attached property sales in August 2010 totalled 374, a decline of 38.7 per cent compared to the 610 sales in August
2009 and a 27.6 per cent increase from the 293 attached properties sold in August 2008. The benchmark price of an
attached unit increased 6.6 per cent between August 2009 and August 2010 to $489,511.

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]]> http://onceuponahome.ca/new-listing-spacious-luxury-in-uptown-new-west/feed/ 0 http://onceuponahome.ca/grow-ops-history-and-identification/ http://onceuponahome.ca/grow-ops-history-and-identification/#comments Sat, 21 Aug 2010 18:52:46 +0000 Alice Fence (Wong) http://onceuponahome.ca/?p=346

WHAT IS A GROW OP?

A grow op, short for “grow operation” is any building that has been leased or bought by persons in the drug trade and turned into an indoor nursery or hydroponics operation to grow marijuana plants. A grow house is any grow op located in residential buildings. Police estimate that there are more than 50,000 active grow ops in Canada today and the number continues to increase.

DAMAGE CAUSED BY GROW OPS

To grow a hydroponic marijuana crop indoors, a number of “renovations” to the property may be required. Unfortunately, these renovations have the potential to cause defects to the structure of the property and repairs can cost several thousand dollars; in extreme cases, the house to be completely torn down.

Firstly, large amounts of water are required to grow a marijuana crop and growers need some form of ventilation to handle the excess moisture generated. This may necessitate modifications to the drain system or venting through the roof.

Secondly, the large amounts of moisture required to grow indoors can generate a considerable amount of mould and spores. There are also a number of noxious gases that develop in the process. Exposure to indoor mould has been associated with exacerbation of asthma in mould-sensitive people and with increased upper respiratory disease.

Thirdly, an enormous amount of power is required to run a grow operation and illegal cables may be hooked up to the power source for the house, drawing far more power than the supply transformer is intended to provide. Moreover, the lines are often cut to the power meter to prevent police and hydro companies from identifying the grow op; however, this is capable of killing someone who accidentally steps on them. Heavy power usage can overheat and reduce the transformer’s life, which can result in fires months or years down the road.

Lastly, the foundation of the property is often compromised in some way so that the electricity supply can be hooked up behind the meter, hiding the actual connection points and ensuring that the increased load is not detected. House wiring and lighting circuits are modified, overloading electrical systems and making the houses hazardous to entire neighbourhoods.

IDENTIFYING A FORMER GROW OP

It is wise to never assume the location is too bizarre or inconvenient to be a grow op. Police have located grow operations in new housing developments, in large and small homes, in basements and attics, in high-rise apartments and warehouses and out buildings. They have even been discovered in vehicles like tractor-trailers, campers, motor homes and railroad cars.

Grow ops often require extensive cleanup and repair. It is possible that these repairs were never made and the real damage is hidden. Noticeable signs that you may be dealing with a former grow op include:

• Mould in corners where the walls and ceilings meet.
• Sign of roof vents.
• Painted concrete floors in the basement, with circular marks of where pots once were.
• Evidence of tampering with the electric meter (damaged or broken seals) or the ground around it.
• Unusual or modified wiring on the exterior of the house.
• Brownish stains around the soffit that bleeds down along the siding.
• Concrete masonry patches, or alterations on the inside of the garage.
• Patterns of screw holes on the walls.
• Alteration of fireplaces.
• Denting on front doors (from police ramming the door).

IN SUMMARY

Marijuana cultivation has grown considerably in popularity over the years simply because it is a very profitable business. The low risk and relatively lenient sentences continue to encourage growers and these operations are eventually becoming major businesses. The unfortunate reality is that small independent grow operations are gradually being taken over by large international criminal enterprises. Marijuana is by far the most popular and widely available illicit drug in Canada and law enforcement agencies believe it is unlikely the current trend will change in the near future.

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When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest. Few are major cities and some are surprising. Don Campbell, president of REIN, as well as one of the researchers on the study, says the results are based on factors such as planned transportation improvements, or if the area’s average income, population growth and job growth are increasing faster than the provincial average.

Oddly enough, nothing east of Ontario shows up on the list, and while Mr. Campbell says cities like Halifax, Saint John and Moncton “still provide decent returns,” the top cities are ones that will outperform the national average between 2010 and 2015.

1. Calgary

Calgary is “poised to outperform the average by a wide margin,” says Mr. Campbell, making it the top-ranked city.

After two years of declining average resale housing prices, the Canada Mortgage and Housing Corp. has predicted they will increase year-over-year in 2010.

The REIN report credits the downturn to a much-needed correction, and that it was “economically impossible for the [Calgary] market to continue at the pace at which it was heading.” But now that it is coming out of the recession, along with economies elsewhere, Calgary’s strengths in producing food, fuel and fertilizer will boost its growth.

“Calgary is in a unique economic and geographic position to take advantage of the direct and indirect jobs this increase in demand will create,” says Mr. Campbell, who adds that with strong in-migration and renewed affordability, the city provides a good buying window for long-term investors.

2. Kitchener-Waterloo-Cambridge, Ont.

REIN refers to Canada’s Technology Triangle as the “economic Alberta of Ontario.” That means KWC is not only seen as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” Mr. Campbell says. For indicators, he points to job growth, student growth and a new light rapid-transit system.

3. Edmonton

Edmonton sits near the top of the report’s list because of its future potential. Calling it a “perennial overachieving market,” REIN says the city is a “growing market, [with] an increasing population, and a forward-looking leadership.”

It will also be the main benefactor of energy development in Western Canada, says Mr. Campbell, resulting in a “very affordable, strong rental market with strong in-migration from across Canada.” Major infrastructure improvements, such as the ring road and LRT expansion, will be key.

4. Surrey, B.C.

British Columbia’s second-largest city is growing so fast it could become even bigger than Vancouver.

“Just a decade ago, it was known as the punch line to many a joke,” Mr. Campbell says. But with two border crossings to the United States, links to five major highways, deep sea docks and four railways, Surrey is a prime location to do business, he says.

Although there may be a strong rental market, it’s a city that requires a closer examination, taking “neighbourhoods and even the street’s characteristics into consideration when deciding where to purchase,” REIN warns.

5. Maple Ridge & Pitt Meadows, B.C.

The Translink and Gateway Project infrastructure improvements have made these B.C. towns the “most accessible regions in [Vancouver’s] Lower Mainland,” the report says. They’ve come a long way, Mr. Campbell says. The unofficial motto of Maple Ridge used to be “You can’t get there from here.” As a result of poor infrastructure in the past, property values have been historically low in this area. But with the improvements, it’s predicted an additional 400 business will move into the area, REIN says, improving the demand for both residential and commercial property.

6. Hamilton, Ont.

“The perception no longer matches the reality of Hamilton,” Mr. Campbell says. “The city’s leadership, as well as local business owners, have transformed what was once a rough-and-tumble steel town to a city with economic vitality, diversification and population growth.” REIN applauds Hamilton’s leadership as being innovative in revitalizing the city, adding Hamilton

“has beaten its overall building permit value for the second year in a row.”

7. St. Albert, Alta.

“Long thought of as a satellite of Edmonton, St. Albert is poised to be the biggest benefactor of the new Edmonton Ring Road,” says Mr. Campbell, who adds that as the transportation access improvement is completed, the city will begin to experience “a flood of not only new residents, but also the relocation of companies and jobs into town.” Other attributes of the city include consistently low vacancy rates, high rents and strong property value increases. It also helps that the city has “turned itself into a major retail centre for the northern region while adding to its industrial and commercial job base,” REIN says.

8. Barrie & Orillia, Ont.

These two cities have been shedding the perception of being just cottage country and have become a “hot bed for growth,” Mr. Campbell says. University and college expansion campuses have brought new life to the area, and the addition of Go Train access has made them viable commuter towns for the Greater Toronto Area, REIN says. For investors, this all adds up to healthy property appreciation, a respectable vacancy rate of 4.7% and the youngest residents on average in a given Census Metropolitan Area (CMA).

9. Red Deer, Alta.

In the centre of the Edmonton-Calgary corridor, Red Deer is not close to either. But REIN suggests reviewing city plans, as there will be a lot of hidden opportunities. “The whole central Alberta region has witnessed very strong population and job growth, as well as a real estate market that has continually outperformed most other regions of the country,” Mr. Campbell says. He adds that with a continually expanding industrial and commercial job base, Red Deer is in a good position to “take advantage of the inevitable growth in demand for food, fuel and fertilizer.”

10. Winnipeg

Winnipeg is often left off the real estate investment radar, but Mr. Campbell says it’s a good city for “consistent economic performance — not too high during booms and not too low during downturns.” But people should stick to buying top-quality properties. REIN also notes that housing prices, after dipping last year, are back to double-digit increases, which could “lead to an influx of inventory on the market.” But with one of the lowest vacancy rates in the country, at 1.2%, there is room for movement. Another positive factor for the city is international immigration is expected to increase under the provincial nominee program being undertaken by the government.

Source: Financial Post

It is said that the average person spends 20 minutes a day or more looking for various belongings. Over the course of a lifetime (for example 70 years), that can add up to over 8,517 hours – almost an entire year spent searching! You’ll have heard the maxim “A place for everything and everything in it’s place”. Well, the Japanese have taken that one step further and have developed a system for use in their factories called “5S”.

Translated into English, the five phases are:

1. Sorting

2. Straightening (or Setting in Order, or Stabilize)

3. Sweeping (or Shining, or Systematic Cleaning)

4. Standardizing

5. Sustaining

1 – “Sorting” is the step for eliminating the “unnecessary”.

Keep only what you think you will use in the next year or so and/or items that would be very expensive or difficult to replace (this will be dictated by your available space.) This is the stage that brings out the “hoarder” in us. Drawings that your 3 year old created for his mommy or daddy can be near impossible to part with. Get creative and take a high resolution photo or scan of it. A digital file takes up no physical space (but don’t forget to have a backup of your harddrive in a safe place!)

Consider donating items that still have some use left in them to family members, friends, or to a charity. Other avenues would be to sell or give away the items on Craigslist, Kijiji, or one of the Freecycle email lists.

2 – “Straightening” is the step for finding a home for each item.

Think of the first time that you saw a well-organized workshop… cabinets with the drawers labeled with their contents, the pegboard with a painted outline around each tool, the jars of specialized nails, bolts, and screws, etc. This is the ultimate expression of the “straightening” step.

Practically, it doesn’t make much sense to paint around the desired location of every item in your home. A better approach would be to find a commonality between different items and find a logical location to house those items.
For example, items such as keys, gloves, umbrellas, dog leashes, etc. should be kept near the most frequently used entrance to the home. How often have you heard the question, “Honey, do you know where I put my keys?”

Children can learn this concept from an early age by creating a system of organization for their toys. Small boxes can be purchased or cut down from cardboard boxes to fit under the children’s beds. You can create an activity for marking the different boxes with the type of toy that belongs to each. Playing time should always include a few minutes to gather the toys and put them in their “homes”, which brings us to the next step…

3 – “Sweeping” is the step for cleaning and returning items to their rightful home.

Keeping your home clean and tidy shouldn’t be an all-day (or longer) exercise. Once you develop the habits to return everything to its place, it will no longer be necessary to “catch up” with days or weeks of neglect. As well, it will be easier to muster the energy to vacuum, dust, or polish when you don’t have to spend all your time moving clutter around.

4 – “Standardizing” means that all members of the household know what is expected of them.

Keeping a system like this in place will require the cooperation of everyone in the household. It’s not just the “act” of following the system but the “frequency” or schedule of duties that makes it work.

Children, of virtually any age, can be given scheduled tasks that suit their abilities. This takes some of the burden off of the parents and teaches valuable self-reliance and self-disciplinary skills that will pay dividends in their adult lives.

5 – “Sustaining”, the most important step.

What would be the point of all this positive change if you just end up falling back into your old habits? Especially in the first few months, set aside about 15 minutes a week to talk about what is and isn’t working about the present system. Allow a free discourse about possible improvements, and if agreed to, incorporate those changes into the first 4 S’s.

To Summarize:

Realize that incorporating  changes to your lifestyle, especially in such a structured way, will take time to implement. The future benefits in creating a more stress-free, spacious, and harmonious home far outweigh the drawbacks. Quite honestly, who couldn’t use another 20 minutes a day of free time?

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