Paul Penner's Blog

Realtor Event

Paul Penner (RE/MAX Little Oak) — Fri, 04 Jun 2010 19:13:51 -0700

I've noticed most members of the Fraser Valley group are Realtors, as immediate past-president of the FVREB I have been charged with coordinating some Realtor social functions. In the past we have arranged hockey nights (Abbotsford Heat), a curling bonspiel and motorbike cruises, I would like to hear some suggestions from you.

What Realtor social event would you like to attend?

Paul Penner

RE/MAX Little Oak

iPad for Realtors?

Paul Penner (RE/MAX Little Oak) — Thu, 03 Jun 2010 16:33:33 -0700

Well I've played around with my iPad for a couple of weeks now and I love it but it's not perfect.

Pros

•· Size/weight is perfect, 1 ½ pounds

•· Battery life is fantastic, over 10 hours of use

•· Screen is fantastic, 10" backlit, multi touch

•· Gets attention (too much at times), great ice breaker at an open house or coffee shop

•· Instant on, doesn't take several minutes to boot up like my PC

•· Checking email is quick (including most attachments)

•· Surfing the web is very convenient and the colors are vivid (most sites)

•· Music from my iPod can be shared

•· Videos and photographs are fantastic

•· Games are blast (at least that's what my kids say)

•· Ap Store has countless free or inexpensive downloads (mortgage calculators, etc.)

•· Book reading is convenient, much less bulky than paper books

Cons

•· Adobe Flash incompatibility, does not work with MLXChange

•· Adobe PDF limited compatibility (read only), does not work with webForms

•· Multitasking is limited, you can listen to music while you work, but can't have two windows/aps open simultaneously

•· No USB port

•· Kids always want to use it

So it's not perfect, certainly as a Realtor I still rely on my PC but you'll have a hard time convincing me to give it up.

Paul Penner

RE/MAX Little Oak Realty

Abbotsford BC

Get the facts!

Paul Penner (RE/MAX Little Oak) — Thu, 25 Jun 2009 15:38:47 -0700

I recently read an Vancouver Sun article that proclaimed an area of Langley as the Lower Mainland's hottest real-estate neighbourhood, the article went on to claim an average price increase of 12% (April 2009 vs. April 2008). Those are astounding numbers, particularly in this market.

A closer look at the actual sales statistics for the area reveals that apartment, townhouse & house prices all declined 9-10% during the same time period. So what gives?

In April of this year five homes with acreage sold for an average price above $850,000, in 2008 no homes with acreage sold. With a sample size of 59 sales these higher priced sales had a significant impact on the average selling price for the area.

When you are buying or selling it is important that you have all the facts.

Paul Penner

RE/MAX Little Oak Realty

Abbotsford, BC

Lessons from a snowman

Paul Penner (RE/MAX Little Oak) — Wed, 07 Jan 2009 17:15:40 -0800

Living in the west coast of British Columbia we don't get alot of snow, so you imagine my 10 year old son's excitement when he looked out the window in the morning and saw a blanket of white.

No procrastination this time, he quickly got dressed and hurried out to build a snowman. His mitts filled with snow he tried to form a ball, it fell apart, again he tried, no luck it just fell apart. The conditions weren't right, it was too cold and the snow was too dry. Unsuccessful at building a snowman he decided to try snow angels they worked well and he spent many hours enjoying the snow.

The next morning more snow, again the snowman was not to be. I can't remember a time when we have received more snow than we had over the holidays this year. Each morning Jordan tried to build a snowman and each morning he failed.

Yesterday there was more new snow, but the conditions had changed, it was warmer outside and the snow was not as dry. As Jordan grabbed two handfuls of snow and formed a ball the snow didn't crush, it stuck. He added more snow to the ball and then carefully rolled it around the yard, eventually it grew to a size that he could not be moved further. He started another ball and when it was large enough he placed it on top of the first. Then a third ball, complete with rocks for eyes and a mouth, dads ball cap and scarf and of course the most important part a carrot for the nose. It was a great day for building a snowman, the conditions where right. Jordan built a number of snowmen that day and the next day. He only stopped building snowmen when it began to rain.

Now the snow is gone, but Jordan has tasted success and is eagerly waiting for his next chance to build another snowman.

What has this taught me as a REALTOR?

Try, try and try again, but if it's not a snowman day try snow angels. If flyers aren't working try calling past clients.
Show up each morning, things will change.
When things finally work don't stop, keep going - you're on a roll.
Savour success, remember the good days and look forward to more.

Paul Penner RE/MAX Little Oak Realty Abbotsford BC 1-800-668-8661 604-859-2341 office Paul@Move2BC.com

Advantage Buyers

Paul Penner (RE/MAX Little Oak) — Wed, 04 Jun 2008 13:46:14 -0700

Any one that has a television or reads the newspapers knows that the US is in the midst's of a dramatic real estate correction. Major metropolitan regions within the states of Arizona, California, Florida, Nevada & Michigan are among the worst hit with declines of 15% to 30% in the last year. Bucking the trend, the US North West saw modest increases in home prices as did parts of New York and Illinois.

The US mortgage lending system was a mess and fraud was rampant, our lending practices are much more conservative. Job losses continue to climb in the US while Canada's economy is strong and jobs are abundant in most of the country (central Canada being the most notable exception).

British Columbia is blessed with an abundance of resources and our fundamentals are strong but we are not an island onto ourselves. A slowing economy in Ontario and weak real estate markets in the US will have an effect on us, in fact I am already seeing some spillover. Sales have slowed, inventory is up and I believe buyers now have the advantage in negotiations. Looking ahead I don't see the same turmoil that our southern neighbors are experiencing, but supply is likely to outpace demand for some time.

Buyers have reason to be optimistic but sellers need not panic as the lower mainland continues to be among the most sought after regions in the world.

Paul Penner

Please remember, if you know anyone that is thinking of buying or selling - call me.

BC REALTORS FORM INCORPORATIONS

Paul Penner (RE/MAX Little Oak) — Wed, 23 Jan 2008 15:48:17 -0800

Today the provincial government announced the passing of legislation that will allow us to form personal corporation, finally after years of lobbying we will have the same tax advantages as dentists, lawyers and others. While this option is not for everyone, REALTORS that consistently earn in excess of $150,000 per year and have a spouse with little or no taxable earnings should consider incorporation (ask an expert). NOTE: This will not absolve you of legal liabilities as a practitioner.

Amendments to the Real Estate Services Act (RESA) that allow individual real estate licensees to form Personal Real Estate Corporations were approved on January 16, 2008 and will go into effect on January 1, 2009.

10 REASONS TO INVEST IN ABBOTSFORD, B.C.

Paul Penner (RE/MAX Little Oak) — Mon, 21 Jan 2008 18:48:04 -0800

Airport - Abbotsford International Airport (YXX) has seen dramatic growth in passenger and freight traffic in recent years.
Economy - the conference Board of Canada is predicting that Abbotsford will be one of the top five fastest-growing cities in Canada (based on increased GDP).
Healthcare - in summer of 2008 the new 300-bed Abbotsford Hospital/Cancer Centre will open, this state of the art facility will be one of the nations finest.
Jobs - consistently one of the lowest unemployment rates in Canada (3.4% in 2007).
Natural Beauty - surrounded by mountains and the Fraser River, the Fraser Valley is one of the most beautiful places on earth (year round golf isn't bad either).
New Homes - BCREA projects housing starts in the Abbotsford Census Metropolitan Area (CMA) will increase by 4 per cent in 2008.
Population Growth - BC is experiencing strong population growth and Abbotsford is redistricted to be among the fastest growing municipalities in the province.
Rental Demand - with a 2.1% vacancy rate in 2007 the demand for rental accommodations remains extremely high.
Schools - in 2007 the Globe and Mail rated University College of the Fraser Valley at the top of its category nationwide for having the most satisfied students, highest quality of education, best library, smallest class sizes, and easiest course registration process.
The People - based on 2007 Statistics Canada survey donors in Abbotsford, British Columbia had by far the highest median donations to charities at $620, Toronto donors were next with a median of $360.

Abbotsford in Top Five Nationaly

Paul Penner (RE/MAX Little Oak) — Mon, 21 Jan 2008 16:38:06 -0800

Today the Conference Board in it's metropolitan outlook for 2008 named Abbotsford as one of the top five metropolitan areas in Canada (as rated by expected gain in gross domestic product). In the past Abbotsford was known as "The Raspberries Capital of the World" and the home of "The Abbotsford International Airshow". We still grow fantastic raspberries and the airshow worth seeing but our economy has been attracting more and more attention in recent years.

Why Abbotsford? Three reasons immediately come to mind: 1) located less than an hour east of Metro Vancouver we are poised to share the growth in trade with the US and Asia as part of the "Pacific Gateway" 2) our international airport is seen as a sleeping giant and in recent years has experienced tremendous growth in freight traffic and passenger traffic 3) in 2008 the new Abbotsford Regional Hospital and Cancer Centre is scheduled to open. I could go on naming things like our moderate climate, natural beauty, fantastic REALTORS... the list is endless.

TOP FIVE (of 27)

Calgary.......................................4.2 per cent gain in gross domestic product
Edmonton....................................4.0 per cent gain in gross domestic product
Winnipeg.....................................3.9 per cent gain in gross domestic product
Abbotsford...................................3.3 per cent gain in gross domestic product
Vancouver....................................3.3 per cent gain in gross domestic product

Port Development in Mission BC

Paul Penner (RE/MAX Little Oak) — Thu, 17 Jan 2008 14:20:27 -0800

Earlier this week B.C. Premier Gordon Campbell announced a $14 billion new transit plan that is touted as a green initiative. "This plan will provide fast, reliable, green transit that acts as a catalyst to change the nature and form of all our communities - urban, suburban and rural," Campbell said. There is no denying it our roads are a mess and we need to get creative in solving the problem. The initiatives in Campbell's announcement should help alleviate some of the congestion in Metro Vancouver but the communities further east where noticeably absent in the announcement. We are one of Canada's fastest growing regions and we need to have a vision for handling this growth.

Vancouver Fraser Port Authority (VFPA) and District of Mission have been in discussions about the creation of a new container port along the Fraser River - great idea! The traffic congestion along Hwy. #1 is terrible and the number of trucks haling containers is increasing each year. The Port of Vancouver handled 79.4 million tonnes in 2006, that's up 4% from 2005's 76.5 million tonnes, I haven't seen the all the numbers from all the ports in the area but I suspect overall volumes are increasing and will continue to increase for the foreseeable future. The creation of an inland port near Mission would allow the movement of goods further into the valley thereby removing significant volumes of commercial traffic from the already congested traffic arteries in the western Fraser Valley.

Tuesday night about 100 people turned out at an information meeting in Mission, most where opposed to the creation of such an port. Impact on lifestyle was sited as a reason to quash the development, creating jobs closer to home sounds like an improvement of lifestyle to me. Negative impact to the environment was another reason sited, I agree we must take care in riverside development but the resulting reduction of idling trucks on most congested roadways in the lower mainland would be a benefit to the environment.

Yes we are blessed with an abundance natural grandeur and as such we must take care to protect it for future generations. We also have a responsibility to future generations in ensuring that we maintain and even enhance the economic prosperity within the region. British Columbia is Canada's gateway to the Pacific and is positioned to lead North America in the flow of trade with China, India and other Asian countries let's not dismiss this opportunity without considering the benefits.

Paul Penner

FRASER VALLEY POPULAR DESTINATION FOR HOMEBUYERS IN 2007

Paul Penner (RE/MAX Little Oak) — Thu, 17 Jan 2008 13:01:14 -0800

January 3, 2008 Fraser Valley Real Estate Board (Surrey, BC) - The 2007 Fraser Valley real estate market finished with residential sales on the Multiple Listing Service® (MLS®) surpassing 2006's volume, average home prices showing double-digit increases and townhomes and condominiums proving more popular.

The Fraser Valley Real Estate Board's MLS® processed 16,547 sales of single family detached homes, townhomes and apartments, a one per cent increase over last year's 16,435 sales. Townhomes and apartments made up 44 per cent of total residential sales in 2007, a 3 per cent increase compared to 2006. Fraser Valley's total sales volume in 2007, which includes the residential figures above and all other property types, finished one per cent less than in 2006 - 18,862 compared to 19,000.

"Many of our clients are families with young children looking for more affordable options," explains Jim McCaughan, president of the Fraser Valley Real Estate Board. "We saw some interesting trends in 2007 reflecting their needs. Townhome sales in White Rock/South Surrey and Langley were up 21 and 18 per cent; and in Mission, apartment sales increased by 34 per cent in one year.

"Yet we also saw more buyers investing in higher-end properties in 2007 with White Rock/South Surrey showing the highest increase in sales of detached homes compared to any other community in the Fraser Valley. Interest there pushed average prices over the $800,000 mark for the first time."

The average price of a single-family detached home in the Fraser Valley increased by 11.4 per cent last year going from $467,252 in 2006 to $520,317 in 2007. In one year the average price of a townhouse increased by 12.7 per cent going from $286,127 in 2006 to $322,578 in 2007. The average apartment price increased by 14.9 per cent, reaching $216,990 in 2007 compared to $188,789 in 2006.

The year 2007 set a new record for annual sales dollar volume reaching over $7.9 billion, an 8 per cent increase over the previous year. Another increase in 2007 was in the number of listings. Over the course of the year, Fraser Valley REALTORS® listed 32,953, a 13 per cent increase compared to 2006's 29,115 listings. The number of active listings at year's end finished at 7,168, 18 per cent higher compared to 6,070 active listings in December 2006.