I think I should buy stock in Nike, Reebok or some other comfy shoe company.  My feet are tired; my pretty summer shoes have been tossed into the back seat of the car and there are no “sold” stickers left in St. John’s.

What’s happening?  Its no big secret, the provincial government signed a memorandum of understanding last August 2007 with several oil partners and since then the market has increased almost 35% in one year.  Recreational properties have increased almost 22% and I’ve gone begging and pleading to my office mates for a “sold” sticker I need to put on a house.  No one has any, not our office, not the local board office – everything is selling, and everything else is sold.

Now to say that prices have gone through the roof is not quite accurate, we still have the best prices for residential homes in Canada and probably still catching up to the mainland, but catching up we are.   And, fast. 

To add another twist into the mix, Canada Mortgage and Housing Corporation is cancelling/suspending its very popular 100% mortgage insurance for buyers by October 15, 2008.  This includes all buyers, first timers and more timers which has really put Realtors feet to the fire.  Anyone who qualified has to “get their ducks in a row” (not sure if that’s a Newfoundland term or not) by that time so that means run out and buy something/anything with a roof.  Some lenders have already pulled the plug and other lenders are closing the doors on this popular program by October 1.  Why?  Bankers and lenders have developed a conscience and don’t want us to get into the sub-prime mess happening below the 49th parallel.  Imagine that protecting us mere mortals – God bless them I say – thinking of us before themselves.  Not that Canada has hit a bit of a slump and that many of the Canadian banks invested heavily in the US mortgage market – no.  It’s for our own good like cod liver oil.

Townies (St. John’s men/women) are seeing the benefit of homeownership and the increasing values are moving quickly past the overpass with homes, vacation homes, and land appreciating at prices never seen before. 

Before I blow a hole in my Nikes – does any have a “sold” sticker?

Denise Brophy, ABR, ePro, CERC Relocation Specialist
www.MyNewfoundlandHome.com

Has anyone read Marc Davidson's article 100 Web sites, one unfulfilling experience online at Inman News Opinions? He put into words some of the same thoughts I've had about real estate websites in general, http://www.inman.com/opinion/guest-perspective/2008/03/3/100-web-sites-one-unfulfilling-experience my comments follows:

        "Just read your article. I've been struggling with websites without presence or content, or anything valued added for the consumer including my own. And I am guilty as charged with attempting to attract business from the web though I can count on one hand the contacts received that have translated into closed transactions. My thoughts are the same as yours the real estate sites/ agent sites are clogged with "hire me, let me help you, I am the best, the first, the top producer" and no content.

        A few years ago my partner and I hired a "marketing" person who "branded" us, ouch! We were satisfied with the results (it looked pretty) and after numerous meetings we finally said we could no longer labour over/keep tweeking it because we just got to get out there with our campaign. Financially and emotionally we felt we would be able to connect with the real estate buying and selling public, we added content, spoke about the market, linked to important sites and felt we had put plenty of information out there - and maybe just maybe it would translate into a web presence and more business. I think our failure (and it is) with our web presence is our inability to communicate to the marketing person that the customer was "it". Where she felt we were "it". And so we are lost in the pages online and our online experience, which we feel we should be having with people looking for homes, is just not happening. And, if its not happening to us, is it happening for others, to anyone?

        I have a blog site on ActiveRain that has brought more interaction with not only real estate professionals but the buying and selling public who are seeking real estate advice as well. It is less costly, more timely, and user friendly and sometimes I even make it to page 1 on Google with a well written blog.

         I wish I had the magic formula real estate agents are seeking, including me, but I don't. I do think if we continue to overlook the needs of the buying and selling public whereby we promise to get them the listings they want "first" because we sell the most, or that our "marketing" system beats all other systems and seeming to welcome inquiries with open arms yet keeping them at arms length is not a way to built relationships web based or otherwise."

I have trusted all the marketing guru's who say 'brand yourself" with a "USP", or buy a system or use a trainer so that all your marketing materials are consistent, such as sending postcards with recipes, or using this program or that program, and last but not least have a web presence.  Judging by Marc Davidson's article there's alot of fluff but no stuff online, no content even with calls to action we are failing our clients and only confusing them with promises not kept.

So what is the next best thing? Blogging may add value to the search experience for prospects, and if it adds value and supports our brand it may change the way we do business. 

I'd love to hear what the housebuying and selling public think our professional online personna.  My guess is they would think it pretty boring, lots of fluff and no stuff, or maybe they'd say its a waste of time and money - that would hurt but maybe I should be back to Marketing 101.

Pat, I'd like to buy an "I".

Denise Brophy, ABR, ePro, CERC Relocation Specialist
www.MyNewfoundlandHome.com

Rain is pouring down outside my St. John’s, Newfoundland home today and that may not sound strange to many of you but it is to us – it should be snowing.  Here we call it Sheila’s Brush (which is a snow storm just before St. Patrick’s Day).  Now I know most of you would take rain over snow any day but for us it’s a strange weather phenomena.  And it tips the balance of our Earth’s ecosystem – again. 

Here in Newfoundland warmer rainy weather translates to warmer oceans which translates to fewer icebergs which translates to a reduction of fish stocks (which need cold water to survive) which translates into fewer fish for fisherpersons which translates to a poor economy and so on and so forth.

We can point our fingers at corporate malfeasance, government inaction, but we should really point our fingers at ourselves.  We are running ourselves into the ground and taking future generations with us.  I happily take my “green” shopping bags to the grocery store, change out my old light bulbs to energy efficient ones, reduced the heat in my home, I compost and recycle, I’ve donated my old cell phone and computers to charity, and I’ve stopped purchasing water and use a water filter at home after listening to Dr. David Suzuki’s www.cbc.ca/canada/newfoundland-labrador/story/2007/02/01/suzuki-water.html commentary on water. 

And, not least of all, I attempt to use my vehicle in an energy efficient manner by combining trips and appointments so that I don’t waste precious fuel that today is $1.25 per litre.  I don’t watch Oprah very often but very recently Lisa Ling http://www.oprah.com/tows/slide/200802/20080227/slide_20080227_350_101.jhtml went dumpster diving in New York with a group that apparently does this on a regular basis.  Literally boxes full of dated food was thrown away not expired - outside grocery stores in Manhattan.  And, people were taking this home, I was hoping they could convince stores to donate these items to local shelters but I’m a dreamer.  I’m sure many grocery companies do donate but that fact that most of this good food would end up in landfills boggles my mind.

Here’s my disappointment with being green hence the reason for feeling a little chartreuse (which green with yellow mixed in, really).  We are chickens with a big yellow streak down our backs, we talk the walk but not walk the talk – at least most of us.  Just take a quick trip to Google Earth and link to World’s Oil Consumption – its astounding!  The U.S., China, Europe and population wise Canada are some of the largest oil consumers in the world.  That petroleum product translates into my fuzzy pajamas that are made of recycled plastic, I rip my energy efficient light bulbs out of their hard plastic shell that winds up in my local landfill, and as I watch hundreds and hundreds of people in line, including myself at times, idling their cars to get coffee in a “recyclable” cup I feel “green” is an uphill battle. 

We are consumers pure and simple and getting to any shade of green is going to take monumental action on the part of government through legislation, corporations by being good citizens of the planet and individuals like you.

Denise Brophy, ABR, ePro, CERC Relocation Specialist

www.MyNewfoundlandHome.com 

How will the Canadian housing market fair with the U.S. Federal Reserve dropping the rate by another .25%?

Our Canadian economy has seen good growth over the past few years while our neighbours south of the border have had, to put it mildly - a hard go of it.  An unpopular war sucking billions of dollars out of its economy, the sub prime fiasco, and now our best trading partner's dollar hovering at .94 to our $1.00 - is there light at the end of the tunnel.  Are our housing prices going to bottom out, go through the proverbial roof, where's Greenspan when we need him!!

I recall a few years ago a buyer from Vermont called me to view a property in a pretty little community about one hours drive outside of St. John's, Newfoundland.  The house was built in the 1800's, had a nice renovation completed, included all the furnishings, was situated five minutes from a pcturesque cove and was listed at $189,900 CDN.  At the time, this little gem would have cost the interested buyer about $130,000 USD.  The sale did not go together because the buyer's property in Vermont did not sell at that time.  Thinking back three years later they would have had a nice return on their investment if the stars were aligned correctly.

So after reading Mike Jone's blog Loonie Rules! Canadian Buying Power Up 6 Percent for Tuscon Home! inviting Canadian buyers to purchase in Tucson Arizona, it got me to thinking that with the Feds dropping their rates yesterday to prop up the US real estate market, where is our market headed? We already know that products made in Canada sell cheaper in the US, like tires, why we don't know.  We also know that items purchased in Canada that are made in the US are higher priced, books for example (taking the cost of shipping into consideration).  So what will become of our housing market, will our homes appreciate or stagnate, will we become victims of the housing "bubble" the US is experiencing.  I would have said confidentially "no, no, no" last year but now am really uncertain. 

I know my buyers will ask the question.  Anyone with a crystal ball? 

www.MyNewfoundlandHome.com

The third quarter Multiple Listing Trends for Newfoundland are in.  After a tumultuous beginning to the year, it looks like we are beginning to see the "balanced" market all Realtors hope for; a well priced home selling within a reasonable time frame to qualified buyers.  Nirvana!

Residential sales were at record highs with an increase in volume of 26% over last year at this time.  More good news is in store for sellers as their property values have increased on average to 8.6% for a single residential dwelling over the same period last year - $140,779 to $152,939.

With a good supply of inventory and posted mortgage rates hovering between 6.5% and 7.5% (though slightly higher than last quarter) buyers can rest assured that investing in that first home will have a good return in years to come.

For more information visit Canada Mortgage & Housing's website at http://www.cmhc.ca/housingmarketinfo or visit me at http://www.MyNewfoundlandHome.com 

We got the news, we got the graphs to prove it, and hot off the press are the MLS Trends for the second quarter in the Eastern Region of Newfoundland. 

There's no mistaking it now - its a Buyers Market!!!!  We danced around the "balanced market" but Realtors know a bit about economics so when more inventory hits the marketplace there is less demand. 

So the good news is active listings have reached all time highs which means lots of inventory for those shopping for a new home.  And speaking of new homes builders are now using the MLS more and more to market their properties.  The listing to sales ratio is 12.7 percent compared to last year at 15.9.  

Now with all that good news heres the downside the Bank of Canada has increased its prime lending rate to 6.25% so inevitably the one to five year rates are hovering around 5.75% to 6.75% and looks like an increase is in store for 2008 by about .50%. For all you who remember double digit interest rates, these are still bargains.

For more information visit Canada Mortgage & Housings website at http://www.cmhc.ca/housingmarketinfo or me at http://www.MyNewfoundlandHome.com

A couple of weeks ago I took the camera for a hike and came across some interesting things in and around our little capital city of St. John's, Newfoundland.  Spotted one mermaid floating on a iceberg outside the Marriott.

Canada Day, July 1 is also Memorial Day for Newfoundlanders who fought in the World Wars.  So a march down Water Street for all the armed forces was in order, a few balloons, lots of red and Signal Hill a nice backdrop.  Love the uniforms of the Mounties.

The service was well attended and with hints of an election early Fall a good time for the local policios to show up for photo ops.  Our premier, Danny Williams, is very approachable as several visitors from Johannesburg, South Africa and Amsterdam, Netherlands found out.  They could not believe they could walk up to him and say hello - he had no security (what for everyone loves him), no driver (he lives just up the road), and he's working hard for the people of the province (what else can we ask for). 

We really do live arm in arm with Mother Nature so when the news came that the capelin were rolling (news meaning news on television and the radio that's how important capelin [small smelt-like fish] are to the fishing community) all hands were down to Middle Cove, so much so there was a traffic cop directing traffic. 

The capelin roll is a social event, a community event, an economic event and really hails the beginning of our often too short summer.  Cast nets, butterfly nets, salt beef buckets, children in waders, men in hip boots soaked to the skin but everyone loving it.  Then surprise of all the whales decided to put on a show, they were hungry and food was a mouthful away.  When Mother Nature puts on a show its better than Circ de Soliel.

Parades and politics aside, the sites, sounds and smells of St. John's and surround are what really keeps this place humming.  

There is plenty of new construction mixed in with older remodeled and established homes which are still very affordable by Canadian standards. How about waking to this view every morning.

While out migration to Alberta and the west affects our population workwise, most Newfoundlanders always find their way home to either work or retire.  You can't really blame us can you.

www.MyNewfoundlandHome.com

Actually there's two money shots.  One is the first iceberg in St. John's in more than five (5) years.  Hopefully a treat for all the Oceanographers visiting this province for a CMOS conference this week in June. 

While its not warm in St. John's by any stretch of the imagination, I kinda felt that Arctic chill coming off the harbour yesterday morning.  I took a quick walk up Signal Hill (or Mother Nature's Stair-master if you get my drift) - my personal best this year - 46 minutes and low and behold there it was - lodged in Freshwater Bay. 

Some of the local sight seeing companies took several brave souls on the water where they hooked themselves a bergy bit.  Yes, it was on the news - our mainland friends wanted pieces to bring home to show the relatives! 

So I was off to Freshwater Bay this morning and as I headed out the trail to get pictures of this Arctic treasure, a few horses came into view, I just love this place.

The people are pretty nice too.

www.MyNewfoundlandHome.com

It is said (mostly by the Atlantic Lottery Corporation) that a Million Dollars goes a lot further in Atlantic Canada than anywhere else in Canada and perhaps the US.

Seems logical, our cost of living is low due to moderate housing costs, our heating costs may be higher its all relative.  I was on Roberta Murphy's blog awhile back and she invited Active Rainers to join the Carnival of Luxury.  It sounds like fun so I thought and I thought, and I thought some more about our provinces concept of luxury.  I know the carnival is over but thought I'd add my two cents.

There are a few substantial properties in St. John's listed at over the $500,000 mark and several edging close to $1,000,000.  Our board had a condo sell for $1.5 million awhile back and everyone thought the purchasers were crazy.  Nice place mind you, four storeys, elevator inside the condo, fabulous view of the Narrows and so forth - I guess that could be considered luxury.

Then I thought that the annual Remax Report on Recreational Properties might be where I find luxury properties, yes there are a few areas, but more like a resort versus luxury home.

So then I thought what would have to be in a luxury home or getaway to be considered luxury:

1. Kidney shaped outdoor pool (we don't need them, too cold on the kidneys)

2. Indoor pool (that's a good idea as long as it comes with a pool boy or to be politically correct pool person)

3. Several garages housing antique sports cars (nope, they'd rust, too close to the salt water, truck with a snowplow would be better)

4. Lush garden with tropical plants (rock garden is more like it, they "the mainlanders" call Newfoundland "The Rock", heck Newfoundlanders call it "The Rock" too)

5. Chef's kitchen (most of our chefs have gone to Alberta were lucky to have a good cook for Jigg's Dinner at the local Irving station)

6. A closet the size of a bungalow (I wear mostly boots and big winter jackets most of the year so the summer portion of the closet would be quite small other than for my shoes)

7. Spa bathroom (nope, who has the time to lie down in a Jacuzzi tub with bubbles and lighted candles - I don't even have time to light the candles forget the suds)

8.  Wine cellar that's the ticket (I usually drink what comes in the door so the cellar would be used for those infrequent hot days or hot flashes just to cool down a bit)

9. A high tech alarm system and house wired for sound (not much crime to speak of here, as for the sound system I'd be turning it down all the time after the kids have cranked it up).

10. My idea of luxury is driving into a small fishing community about an hours drive away (no traffic, we do have our "rush hour" at which we might get stuck for two traffic lights), parking my car on the wharf, bringing a little chair and a book to read, watch the fishers (that's the new politically correct name for fishermen) come and go in their little boats, smell the really fresh air, and soak up the elusive sunshine, and listen to the quiet of the cove. 

Money can't buy this!!

www.MyNewfoundlandHome.com

The MLS Sales Activity Report for the Eastern Region of Newfoundland and Labrador is out and, drum roll please, looks like first quarter residential sales are up over the same time last year.  Exhale. 

Fortunately for buyers but unfortunately for sellers the market has remained flat during the quarter will little to no increase in prices of average residential housing.  The market is firmly in Buyers hands with price growth to be minimal through the remainder of the year.  Good for some, not good for everyone.

So they've said it - its a Buyers Market with a sustained increase in listings.  Translated that is one in eight homes have sold this quarter with longer days on the market and flat growth for 2007.  The good news is the supply of active listings especially from builders and contractors and the resale market appears to be slowing down.  The mortgage rate increases have slowed to a halt and looks like that will hold till mid-summer. 

Perhaps the market will balance itself out within the next few months, only time will tell.  If you would like more information about our current marketplace visit http://www.cmhc.ca/housingmarketinfo/. 

www.MyNewfoundlandHome.com