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September 2013

Found 4 blog entries for September 2013.

When Buyers enter a show suite for the first time, it can look very impressive and they are often shown marketing materials which can include the layout of some of the units and the amenities which will be present once the development is built. Often a contract is signed and a deposit is made before Buyers have had a chance to fully contemplate their decision. By law in British Columbia, Purchasers of new development property have a 7 day rescission period to cancel their purchase agreement and have their deposit returned without penalty. Amendments to the Disclosure also restart the 7 day rescission period. During this 7 day period purchasers should thoughtfully and carefully review their disclosure statement to ensure that the development property
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We experienced the expected increase in sales this August compared to last years and I fully expect that trend to continue into the fall provided there are no further immediate moves by government to tighten lending policies. A balanced market is within reach but we’re not there yet and marginal properties and those in outlying areas continue to be harder hit than they would be if supply and demand were more balanced. At the end of last month our total supply of listings for sale shrank further to just 4,593 and with 540 total sales or 11.75% of the inventory, an 8 ½ month supply. We are definitely continuing our trend and edging closer to a balanced market which we’ve been moving towards since April 2013.   FOR IMMEDIATE RELEASE September 3, 2012

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U.S. home prices rose 12.1% in June from a year earlier, nearly matching a seven-year high. But month-over-month price gains slowed in most markets, a sign that higher mortgage rates may weigh on the housing recovery. The Standard &Poor’s/Case-Shiller 20-city home price index slowed only marginally from May’s year-over-year gain of 12.2%, the fastest since March 2006. And all 20 cities posted gains from the previous month and compared with a year ago, according to the report released Tuesday. Home prices in Las Vegas soared 24.9% from a year earlier to lead all cities. Purchases by investors have helped drive that increase. Other cities hit hard by the housing bust also posted stunning gains in the past year. Prices have jumped 24.5% in San Francisco and…
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