Alphonse's Real Estate Blog

HOME SALES IN SOUTHERN CALIFORNIA ARE ALL DUE TO FORECLOSURES

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 14 Oct 2009 07:28:42 -0700

What we have going on right now in Greater Vancouver Real Estate in my opinion is not sustainable. When I look at reports like the one below from David A. Rosenberg of Gluskin Sheff, it gets me scratching my head and wondering not if but when the consolidation will take place. "According to MDA DataQuick, the number of homes sold in SoCal rose 0.2% MoM in September to 21,539 units and on a year-over-year basis, home sales are now up 5.1%. However, most of the sales were attributed to foreclosures, which accounted for 40% of the homes/condos sold in the area, and it was probably also boosted by those taking advantage of the federal tax credit for first-time homebuyers, which expires at the end of November. As a result of these fire-sales, the median home and condo prices in Southern California fell 11% YoY in September, to $275,000. Overall, the state of the housing market in California remains clouded as the number of foreclosures that will hit the market are unknown at this point and what happens after the tax credit expires." www.AlphonseQ.com

Buyer demand remains strong while home listings increase

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 11 Oct 2009 16:57:53 -0700

VANCOUVER, B.C. - October 2, 2009 - Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded. "As homes sales in Greater Vancouver continued at an elevated pace in September it's encouraging to see that more homes were listed on the MLS® in the month than any other so far this year," Scott Russell, REBGV president said. New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver. At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer's market that was experienced at this time last year. "During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008," said Russell. Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent. Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632. Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686. Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,

Market conditions drive strong June housing sales

Alphonse J. Quenneville (Royal LePage Northshore) — Fri, 03 Jul 2009 14:37:59 -0700

VANCOUVER, B.C. – July 3, 2009 – The combination of low interest rates and more affordable pricing helped propel Greater Vancouver home sale numbers to the second all-time highest total for the month of June. The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties increased 75.6 per cent in June 2009 to 4,259, from the 2,425 sales recorded in June 2008. The figure is just short of the record-breaking 4,333 sales which occurred in June 2005. New listings for detached, attached and apartment properties declined 17.9 per cent to 5,372 in June 2009 compared to June 2008, when 6,546 new units were listed. However, new listings increased 13.5 per cent from May to June of this year. Total active listings in Greater Vancouver currently sit at 13,252, down 27 per cent from June 2008 and 2.9 per cent below the active listings count at the end of May 2009. “Price reductions and low interest rates have created an improvement in affordability, which is causing the number of sales to rise to levels comparable to 2003 to 2007,” Scott Russell, REBGV president said. “Many people who were reluctant to purchase a home last fall and earlier this year are returning to the market because they see conditions that appeal to their personal and financial needs,” Russell said. “However, the current marketplace is such that buyers are more inclined to walk if they don’t like the terms of an offer.” Residential benchmark prices, as calculated by the MLSLink® Housing Price Index, declined 8.2 per cent to $518,855 in June 2009 compared to June 2008. The number of sales of detached properties increased 81.6 per cent to 1,667 from the 918 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 8.4 per cent to $701,384 in June 2009 compared to June 2008. The number of sales of apartment properties in June 2009 increased 69.3 per cent to 1,790, compared to 1,057 sales in June 2008. The benchmark price of an apartment property declined 8.2 per cent from June 2008 to $356,880. The number of attached property sales in June 2009 increased 78.2 per cent to 802, compared with the 450 sales in June 2008. The benchmark price of an attached unit declined 7.3 per cent between June 2009 and 2008 to $441,620. Bright spots in Greater Vancouver in June 2009 compared to June 2008: Detached: Burnaby up 109.7 per cent (151 units sold from 72) Coquitlam up 122.2 per cent (160 units sold from 72) Delta - South up 107.7 per cent (56 units sold from 27) Maple Ridge/Pitt Meadows up 54.3 per cent (162 units sold from 105) New Westminster up 104.8 per cent (43 units sold from 21) North Vancouver up 96.2 per cent (153 units sold from 78) Port Moody/ Belcarra up 120 per cent (33 units sold from 15) Richmond up 77.4 per cent (204 units sold from 115) Squamish up 107.7 per cent (27 units sold from 13) Sunshine Coast up 33.9 per cent (75 units sold from 56) Vancouver East up 71.2 per cent (238 units sold from 139) Vancouver West up 85.2 per cent (200 units sold from 108) West Vancouver/Howe Sound up 117.8 per cent (98 units sold from 45) Attached: Burnaby up 81.8 per cent (140 units sold from 77) Coquitlam up 80 per cent (54 units sold from 30) Maple Ridge/Pitt Meadows up 48.6 per cent (55 units sold from 37) North Vancouver up 121.2 per cent (73 units sold from 33) Port Coquitlam up 82.6 per cent (42 units sold from 23) Port Moody/ Belcarra up 77.3 per cent (39 units sold from 22) Richmond up 84.5 per cent (155 units sold from 84) Vancouver East up 118.5 per cent (59 units sold from 27) Vancouver West up 121.8 per cent (122 units sold from 55) Apartments: Burnaby up 60.4 per cent (239 units sold from 149) Coquitlam up 93.9 per cent (95 units sold from 49) New Westminster up 57.1 per cent (121 units sold from 77) North Vancouver up 71.4 per cent (120 units sold from 70) Port Coquitlam up 58.1 per cent (49 units sold from 31) Port Moody/Belcarra up 128.6 per cent (48 units sold from 21) Richmond up 54.1 per cent (225 units sold from 146) Vancouver East up 58.7 per cent (165 units sold from 104) Vancouver West up 87.2 per cent (627 units sold from 335) West Vancouver/Howe Sound up 155.6 per cent (23 units sold from 9) Download complete stats package by clicking here. The Real Estate industry is a key economic driver in British Columbia. In 2008, 24,626 homes changed hands in the Board's area generating $1.03 billion in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 9,400 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org. Note: The MLSLink® Housing Price Index (HPI), established in 1995, is modeled on the Consumer Price Index (CPI) which measures the rate of price change for a basket of goods and services including food, clothing, shelter, and transportation. Instead of measuring goods and services, the HPI measures the change in the price of housing features. Thus, the HPI measures typical, pure price change (inflation or deflation). The HPI benchmarks represent the price of a typical property within each market. The HPI takes into consideration what averages and medians do not – items such as lot size, age, number of rooms, etc. These features become the composite of the ‘typical house’ in a given area. Each month’s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, etc. and apply those new values to the ‘typical’ house model.

Metro Vancouver Homes - The Q Report February 2009.02

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 08 Mar 2009 18:50:24 -0700

www.AlphonseQ.com Metro Vancouver Real Estate sales were down 44.6% from February 2008, but improved by 94.6% from last month, reaching the highest level in the past five months. Listings were down 25.6% from one year ago. Detached Home prices in Metro Vancouver have fallen 14.2% from February 2008, to an average benchmark price of $653,452. Listings available for sale were down 24.1%. The number of detached homes sold in February was down 40.6% from one year ago, but up 102.1% from last month. Townhouse prices in Metro Vancouver fell by 9.7% in the past twelve months, coming in at $426,268 in February 2009. The number of townhouses sold in February 2009 fell by 49.8%. Inventory levels fell by 15.2% this February over last. Condominium prices were down 13.9% from one year ago. With prices averaging $333,143, February sales were down 45.7% from last February. The February inventory of condominiums available for sale declne 30.7% from one year ago. Statistical source: Real Estate Board of Greater Vancouver

West Vancouver Homes - The Q Report February 2009.02

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 08 Mar 2009 18:47:13 -0700

www.AlphonseQ.com West Vancouver detached home prices in February 2009 were up 5.6% from last month, reaching a benchmark price of $1,232,469. The number of units sold in February increased by 22.7% over January, but fell short of February 2008 sales by 51.8%. The number of homes available for sale on the Multiple Listing Services was down 33.6% this February over last. Statistical source: Real Estate Board of Greater Vancouver

Squamish Homes - The Q Report February 2009.02

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 08 Mar 2009 18:42:56 -0700

www.AlphonseQ.com Detached home sales in Squamish declined 38.5% from February of last year, as the average benchmark price fell 8.9% to $530,479. Inventory levels over this period fell 35.7%. Squamish townhouse and condominium sales fell short of February 2008 sales by 79.2%. Inventory levels this February were down 12.9%, due, in large part, to the slowing of new building construction. Statistical source: Real Estate Board of Greater Vancouver

North Vancouver Homes - The Q Report February 2009.02

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 08 Mar 2009 18:39:06 -0700

www.AlphonseQ.com Detached Homes - At an average benchmark price of $739,856, February detached home prices declined 5.6% from January, and 16.1% from twelve months ago. The number of detached homes sold in February was up 283.3% from the low point reached in January, but down 43.2% from one year ago. The supply of detached homes on the market fell 6.6% from last February. Townhouse benchmark prices averaged $535,646, down 13.6% from one year ago. February sales were down 65.7% over this period. Condominium prices in North Vancouver declined 15.6% from February 2008, while sales fell 59.1%. The February inventory of condos available for sale was down 29.7% from February of last year. Statistical Source: Real Estate Board of Greater Vancouver

Home listings withdraw as sales volume slows

Alphonse J. Quenneville (Royal LePage Northshore) — Thu, 05 Feb 2009 05:53:09 -0800

VANCOUVER, B.C. - February 3, 2009 - The first month of 2009 saw a continued reduction in the number of homes listed for sale in Greater Vancouver, while sales volumes in January were the lowest for that month since the early 1980s.The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties declined 58.1 per cent in January 2009 to 762 from the 1,819 sales recorded in January 2008.New listings for detached, attached and apartment properties declined 20.9 per cent to 3,700 in January 2009 compared to January 2008, when 4,675 new units were listed. Total active listings in Greater Vancouver currently sit at 13,966, down nearly 6,000 listings from October 2008.Overall residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 10.9 per cent to $489,007 between Januarys 2008 and 2009."Home sales and consumer confidence are at a low point at the moment, but the long-term strength and security of our housing market are beyond the reach of the economic clouds of today," Dave Watt, REBGV president said."Today's short-term conditions are creating long-term opportunities. Buying opportunities have not been this strong in a decade, with low interest rates, broad selection and more affordable prices," Watt said.Sales of detached properties declined 54.4 per cent to 292 from the 641 detached sales recorded during the same period in 2008. The benchmark price for detached properties declined 11.2 per cent to $659,638 in January 2009 compared to $742,490 January 2008.Sales of apartment properties in January 2009 declined 58 per cent to 361, compared to 860 sales in January 2008. The benchmark price of an apartment property declined 11.6 per cent to $334,602 compared to $378,336 in January 2008.Attached property sales in January 2009 were down 65.7 per cent to 109, compared with the 318 sales in January 2008. The benchmark price of an attached unit declined 8.1 per cent to $425,309 compared to $462,627 in January 2008.

Federal budget offers good news for homebuyers and homeowners - The "Q" Report

Alphonse J. Quenneville (Royal LePage Northshore) — Thu, 29 Jan 2009 03:21:12 -0800

www.AlphonseQ.com VANCOUVER, B.C. - January 29, 2009 -Yesterday's federal budget offered a number of initiatives to benefit homebuyers and homeowners in our communities. "The housing measures tabled in yesterday's budget will go a long way to addressing local economic uncertainties, consumer confidence and the quality of life in our neighbourhoods," said REBGV president Dave Watt. "Home sales are so important to our economy. Each time a home changes hands, the transaction generates significant spin-offs and jobs because homebuyers also purchase furniture, appliances, carpeting, and numerous other goods and services related to their homes." The federal budget announced a new First-Time Home Buyers' Tax Credit of up to $750 to help homebuyers with closing costs such as land transfer taxes and legal fees, a new Home Renovation Tax Credit of up to $1,350 for homeowners who renovate, a new funding program for ecoENERGY retrofits that provides home and property owners up to $5,000 for energy improvements and a new social housing program. The federal budget also announced an increase to the Home Buyers' Plan withdrawal limit to $25,000 from $20,000. The Plan was first introduced in 1992 to help first-time homebuyers by allowing them to withdraw from their RRSPs to buy a home. The withdrawal limit had not been increased since then. Eligible couples can now withdraw up to $50,000. The REBGV has advocated these changes for many years, and, in 2008 received support from Delta-Richmond East MP John Cummins who introduced a private members' bill and personally raised the issue with colleagues from all parties, including the Minister of Finance. "The federal budget demonstrates that the Government of Canada is listening to our concerns and paying attention to what we have to say," said Watt. "As a result of the budget announcements, homeownership today is more accessible and more affordable for all Canadians." www.AlphonseQ.com

Metro Vancouver Homes - The Q Report December 2008.12

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 18 Jan 2009 17:43:26 -0800

Metro Vancouver real estate sales continued their downward trend, ending 2008 at 35.2% fewer sales than last year. The number of overall listings avaialble for sale was down 8.9% this December over last. Challenges in the global economy in 2008 have brought relief from detached home benchmark prices that had rised fro $357,770 in 2001 to $648,421 in December 2008. Detached home prices have now reached levels consistent with those of mid-2006. Detached home prices in Metro Vancouver have fallen 11.2% from December 2007, to an average benchmark price of $648,421, while listings available for sale were up 6%. The number of detached homes sold in 2008 was down 37.5% from 2007. Townhouse prices in Metro Vancouver fell by 7.4% in the past twelve months, coming in at $423,338 in December 2008. The number of townhouses sold in 2008 fell by 35.3%. Inventory levels fell by 24.2% this December over last. Condominium prices were down 11.7% from one year ago. With prices averaging $333,275, sales in 2008 were down 33.2% from last year. The December inventory of condominiums available for sale was down 14% from December 2007. Statistical source: Real Estate Board of Greater Vancouver Published Sunday, January 18, 2009 2:26 PM by Alphonse Quenneville www.AlphonseQ.com

Squamish Homes - The Q Report December 2008.12

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 18 Jan 2009 17:40:52 -0800

The number of 2008 detached home sales in Squamish was down 40% from last year. December 2008 inventory levels were consistent with those of one year ago. Squamish townhouse and condominium sales were down 48.5% from 2007. Inventory levels this December were down 78.1% from December of last year, in part due to the slowing of new building construction. Statistical source: Real Estate Board of Greater Vancouver Published Sunday, January 18, 2009 2:57 PM by Alphonse Quenneville www.AlphonseQ.com

North Vancouver Homes - The Q Report December 2008.12

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 18 Jan 2009 17:37:48 -0800

Detached homes - At an average benchmark price of $728,600, December detached home prices in North Vancouver were down 16.4% from twelve months ago. Current pricing is consistent with early 2006. The number of detached homes sold in 2008 declined 27.5% from 2007. Detached homes available for sale increased by 63.2% over last December. Townhouse benchmark prices averaged $506,158, down 12.4% from one year ago. 2008 sales were down 32% from last year. Condominium prices in North Vancouver are down 16.2% from December 2007, while 2008 sales have fallen 36.4% from last year. The December inventory of condos available for sale is up just slightly, at 2.9% over one year ago . Statistical source: Real Estate Board of Greater Vancouver Published Sunday, January 18, 2009 2:41 PM by Alphonse Quenneville www.AlphonseQ.com

West Vancouver Homes - The Q Report December 2008.12

Alphonse J. Quenneville (Royal LePage Northshore) — Sun, 18 Jan 2009 17:35:18 -0800

West Vancouver detached home prices declined 12.8% from December of last year, reaching a benchmark price of $1,168,852. As the number of units sold in 2008 was down 38.3%, the number of detached homes available for sale fell by 4% this December over last. Statistical source: Real Estate Board of Greater Vancouver Published Sunday, January 18, 2009 2:38 PM by Alphonse Quenneville www.AlphonseQ.com

Canadian Dollar has pros and cons

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 12 Nov 2008 05:10:29 -0800

The "Q" Report The volatile movements in the value of the Canadian dollar have been breathtaking. The Canadian dollar has fallen because of the downturn, and now full recession, in the American economy. At first glance, this does not seem to follow logic. Equity & Real Estate Markets in the USA have crashed. Some American investors are being forced to liquidate their holdings (in Canadian and World Equities) and convert them back to American dollars. This movement of cash into American dollars is adding strength to the American dollar and causing other currencies to fall. This process has to, and will finish at some point in 2009. We expect the Canadian dollar to strengthen again, once this U.S. liquidation process works its way through world markets. We feel that now is a good time for American Investors to take advantage of their strong dollar by investing in British Columbia Real Estate. Doing so will leverage the investment against a Canadian dollar, which is bound to increase in value in the next year. www.AlphonseQ.com

Volatile Canadian Dollar and Real Estate

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 12 Nov 2008 05:07:23 -0800

Metro Vancouver Update

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 12 Nov 2008 04:55:38 -0800

Metro Vancouver - The "Q" Report Metro Vancouver October year-to-date real estate sales continued to trend downward, falling 31.3% from this time last year. The number of overall listings available for sale in October has increased slightly. With a wide range of homes available for sale and moderating prices, thereʼs been a definite shift to a buyersʼ market. Detached home prices in Metro Vancouver have fallen 4.7% from October 2007, to an average benchmark price of $695,962. The number of detached homes sold October year-to-date fell by 34.2% from last year, while listings were up 5.9% over last October. Prices of Metro Vancouver townhouses fell by 1.4% in the past twelve months, coming in at $448,152 in October 2008. The number of townhouses sold October year-todate fell by 31.0%. Inventory levels increased slightly this October over last. Metro Vancouver condominium prices were down 3.5% from October of last year. With prices averaging $358,359, October year-to-date sales were down 28.8% from last year. The October inventory of ondominiums available for sale was down 3.8%. www.AlphonseQ.com

Our Leaders need a Chance

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 12 Nov 2008 04:51:20 -0800

The "Q" Report We now have our new Canadian and American leaders elected. As Canadians, we ended up pretty much where we started. For Americans, there has been a total change of direction. Obama officially takes over in January amidst much optimism and anticipation. What Canadians and Americans need to understand is it will take time for Obama to achieve his goals. With the poor state of the economy in the U.S. a new President will require everyone's patience to move the country in the direction he has laid out, which will be no easy task. www.AlphonseQ.com

Open House in Renfrew Heights Vancouver British Columbia on Sunday

Alphonse J. Quenneville (Royal LePage Northshore) — Fri, 07 Nov 2008 14:19:53 -0800

www.AlphonseQ.com Renfrew Heights, Vancouver - We invite everyone to visit our open 3 bedroom 2 bathroom house at 4217 Slocan on November 9 from 1:00 PM to 3:00 PM. Beautiful, quiet 3 or 4 bedroom house. Sell your car and use rapid transit, skytrain is an easy 5 minute walk away. Far enough away to not interfer with enjoying this house! Unbelievably convenient central location with a beautiful City View. This house has a 2nd kitchen in b'smt which could easily accomodate the inlaws or extra income if required. Property information

People are still Planning on Moving & Buying in British Columbia

Alphonse J. Quenneville (Royal LePage Northshore) — Mon, 03 Nov 2008 14:43:48 -0800

www.AlphonseQ.com - The "Q" Report Sales in Metro Vancouver including West Vancouver Homes and North Vancouver Homes have slowed considerably and prices have reversed. People are still planning on buying as indicated by Ipsos Reid. A new Ipsos Reid survey shows that the number of people who intend to buy is holding steady. Sean Simpson of Ipsos Reid says "Home purchasing intentions in Canada are relatively stable. Nationally, they are down just one percentage point from when we asked the question in January and in British Columbia they are actually up one percentage point" Ipsos Reid says 22% of Canadians are considering a move in the next two years, and that jumps to 27% in B.C.

Residential housing price decline creates buying opportunities

Alphonse J. Quenneville (Royal LePage Northshore) — Mon, 03 Nov 2008 13:34:25 -0800

VANCOUVER, B.C. www.AlphonseQ.com The "Q" Report November 3, 2008 - Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008. The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008. "Home sales are not keeping pace with the positive economic conditions in BC," said REBGV president, Dave Watt. "That's a direct result of a loss of consumer confidence in the overall market. Accordingly, today's housing market is characterized by moderating home prices and wide selection. It's definitely a buyer's market." Residential property sales in Greater Vancouver declined 55 per cent in October 2008 to 1,364 from the 3,028 sales recorded in October 2007. Active listings totalled 19,257 in October 2008, a three per cent decline from the 19,852 active listings reported in September 2008. New listings for detached, attached and apartment properties increased one per cent to 4,867 in October 2008 compared to October 2007, when 4,819 new units were listed. Sales of detached properties in October 2008 declined 56.5 per cent to 493 from the 1,133 sales recorded during the same period in 2007. The benchmark price for detached properties declined 4.7 per cent from October 2007 to $695,962. Since May 2008, the benchmark price for a detached property in Greater Vancouver has declined 9.8 per cent. Sales of apartment properties in October 2008 declined 52.7 per cent to 647, compared to 1,368 sales in October 2007. The benchmark price of an apartment property declined 3.5 per cent from October 2007 to $358,359. Since May 2008, the benchmark price for an apartment property in Greater Vancouver has declined eight per cent. Attached property sales in October 2008 are down 57.5 per cent to 224, compared with the 527 sales in October 2007. The benchmark price of an attached unit declined 1.4 per cent in Greater Vancouver between October 2007 and 2008 to $448,152. Since May 2008, the benchmark price for an attached property in Greater Vancouver has declined 6.4 per cent.

The Most Beautiful 1/2 Duplex in Squamish British Columbia

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 08 Oct 2008 07:38:14 -0700

• 2,150 sq. ft., 3 bath, 4 bdrm duplex - Brackendale, Squamish - Beautiful, luxurious, and new, 1/2 duplex in Squamish, probably the nicest in town. Includes 4 bedrooms, 3 full bathrooms, and a huge 5 ft crawlspace.This is a fabulous neighborhood, with amazing mountain Views, near parks, cafe's, and easy walking distance to schools and river. Access right out your front door to Mountain biking trails and many other amenities. Meticulous attention to detail and quality constuction is evident everywhere in this home. Dramatic 9' ceilings with detailed crown molding, wired for Lan, Sound, Security & Multi Media. Practically every room in this home has highlighted ceilings. The kitchen includes stainless steel appliances, a 5 burner gas range & microwave oven all accented with natural wood cabinets and stone countertops, everything is top of the line with no detail overlooked. This entertainers kitchen is set with an island counter & doors out to the sun drenched deck. Enjoy music throughout this home on the built-in speaker system, tied to a central media closet in the family room. This home offers the best in taste and quality and there is nothing available in Squamish today built to this standard! Below Replacement Cost! MLS® $639,000 Call today! Property information www.AlphonseQ.com

Open House in Renfrew Heights in East Vancouver

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 08 Oct 2008 07:20:00 -0700

Renfrew Heights, Vancouver - We invite everyone to visit our open house at 4217 Slocan on October 11 from 2:00 PM to 4:00 PM. This home is a great example of excellent value which is being missed in todays market, take a look at the property info below and see you on the weekend! Property information

Open House in Kerrisdale - Vancouver

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 08 Oct 2008 07:15:40 -0700

Kerrisdale, Vancouver - We invite everyone to visit our open house at 3-2110 West 47th Avenue on October 12 from 2:00 PM to 4:00 PM. Nothing else compares in this price point in Kerrisdale, come take a look! Property information

Bank of Canada cuts the Prime Rate and TD Canada Trust follows suit

Alphonse J. Quenneville (Royal LePage Northshore) — Wed, 08 Oct 2008 07:10:17 -0700

The "Q" Report Rapidly deteriorating credit conditions in Canada and around the globe, has motivated the Bank of Canada to join the U.S. Federal Reserve, European Central Bank and three other central banks Wednesday in cutting interest rates by 50 basis points. As a result, the Bank of Canada's benchmark lending rate stands at 2.5%. I expect that the Canadian central bank is not finished with rate reductions, with more reductions to come. TD Canada Trust today announced that it has lowered its prime lending rate by 25 basis points to 4.50 per cent, effective October 9, 2008. It is likely that the other Canadian banks will follow suit.

Open House in Renfrew Heights in Vancouver this Sunday

Alphonse J. Quenneville (Royal LePage Northshore) — Thu, 02 Oct 2008 13:08:36 -0700

Renfrew Heights, Vancouver - We invite everyone to visit our open house at 4217 Slocan on Sunday October 11th from 2:00 PM to 4:00 PM. Dont miss this one, priced to sell in a convenient, quiet, location, location, location. Property information www.AlphonseQ.com