Wednesday, March 08, 2006
February Sales Summary Keeps Climbing
News Release: March 3, 2006
NANAIMO, BC - Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board for February 2006, shows unit sales and average sale prices across the board region continuing upward trends.
At the end of February 2006, total unit sales for the board area were up 2 per cent from February 2005 but up almost 38 per cent from a month earlier in January 2006. The average sale price for the total board area increased 20 per cent from February 2005 and increased 3 per cent in just the last month alone.
VIREB President Darrell Paysen says the market is percolating right along.
"This continued strength in 2006 shows the market is healthy. I get the sense that buyers and sellers are comfortable with the strength of the economy in BC, and aren't too terribly worried about forecasted small interest rate hikes," he says. "There is a lot of consumer confidence."
From February 2005 to February 2006, Campbell River increased 27 per cent (to $251,145), Comox Valley 21 per cent (to $296,910), Nanaimo 22 per cent (to $289,927), Parksville/Qualicum 19 per cent (to $321,510), Port Alberni 25 per cent (to $158,831) and Duncan’s increased 16 per cent (to $279,525).
With the exception of Nanaimo and Parksville-Qualicum, unit sales increased from February 2005 to February 2006 in every zone of VIREB.
"While I think analyzing the month to month statistics is important, I believe the larger, long term trends give a much better view of real estate activity on Vancouver Island."
Paysen says that longer term view, echoed by the BC Real Estate Association, is that 2006 overall will be the 2nd busiest year on record (after the 2005 record).
"I believe consumer confidence is there across our region. Interest rates have fluctuated, but are anticipated to stay around the 5 per cent range. The 2010 Olympics are on the horizon, and after seeing the exposure for Vancouver during the recent Turin Olympics, I only think that interest will keep building for this part of the world," he says.
"As a member of their local real estate Board, REALTORS have their finger on the pulse of the housing market. Consumers should contact their REALTOR if they are considering buying or selling a home."
VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.
VIREB represents approximately 1,000 licensed REALTOR members in more than 80 member offices on Vancouver Island (North of Victoria).
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). REALTORS subscribe to a Code of Ethics and Standards of Business Practices as set out by CREA. MLS is a cooperative marketing system used by Canada's real estate boards.
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Tom McNee Honoured As REALTOR Of The Year
NANAIMO, BC - Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board for February 2006, shows unit sales and average sale prices across the board region continuing upward trends.
At the end of February 2006, total unit sales for the board area were up 2 per cent from February 2005 but up almost 38 per cent from a month earlier in January 2006. The average sale price for the total board area increased 20 per cent from February 2005 and increased 3 per cent in just the last month alone.
VIREB President Darrell Paysen says the market is percolating right along.
"This continued strength in 2006 shows the market is healthy. I get the sense that buyers and sellers are comfortable with the strength of the economy in BC, and aren't too terribly worried about forecasted small interest rate hikes," he says. "There is a lot of consumer confidence."
From February 2005 to February 2006, Campbell River increased 27 per cent (to $251,145), Comox Valley 21 per cent (to $296,910), Nanaimo 22 per cent (to $289,927), Parksville/Qualicum 19 per cent (to $321,510), Port Alberni 25 per cent (to $158,831) and Duncan’s increased 16 per cent (to $279,525).
With the exception of Nanaimo and Parksville-Qualicum, unit sales increased from February 2005 to February 2006 in every zone of VIREB.
"While I think analyzing the month to month statistics is important, I believe the larger, long term trends give a much better view of real estate activity on Vancouver Island."
Paysen says that longer term view, echoed by the BC Real Estate Association, is that 2006 overall will be the 2nd busiest year on record (after the 2005 record).
"I believe consumer confidence is there across our region. Interest rates have fluctuated, but are anticipated to stay around the 5 per cent range. The 2010 Olympics are on the horizon, and after seeing the exposure for Vancouver during the recent Turin Olympics, I only think that interest will keep building for this part of the world," he says.
"As a member of their local real estate Board, REALTORS have their finger on the pulse of the housing market. Consumers should contact their REALTOR if they are considering buying or selling a home."
VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.
VIREB represents approximately 1,000 licensed REALTOR members in more than 80 member offices on Vancouver Island (North of Victoria).
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). REALTORS subscribe to a Code of Ethics and Standards of Business Practices as set out by CREA. MLS is a cooperative marketing system used by Canada's real estate boards.
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News Release: Feb 24, 2006
NANAIMO, BC- Comox Valley REALTOR Tom McNee was named REALTOR of the Year, at the Annual General Meeting of the Vancouver Island Real Estate Board (VIREB) February 22nd at the Coast Bastion Inn.
"It's a total surprise. It's a real honour to be recognized by your peers," McNee says.
The prestigious award was presented to McNee because of his outstanding service to VIREB and the real estate industry, his leadership and community service role in his own community, and by his actions helping to enhance the image of all REALTORS.
McNee, with Royal LePage in Courtenay, has been a VIREB member since 1991.He has served as a Board Director for 6 years and was a Board President in 2002.
"In real estate, our personal integrity is of prime importance and you must be ethical at all times," McNee outlines. "I love this industry and this career."
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New VIREB Board Sworn In At AGM
NANAIMO, BC- Comox Valley REALTOR Tom McNee was named REALTOR of the Year, at the Annual General Meeting of the Vancouver Island Real Estate Board (VIREB) February 22nd at the Coast Bastion Inn.
"It's a total surprise. It's a real honour to be recognized by your peers," McNee says.
The prestigious award was presented to McNee because of his outstanding service to VIREB and the real estate industry, his leadership and community service role in his own community, and by his actions helping to enhance the image of all REALTORS.
McNee, with Royal LePage in Courtenay, has been a VIREB member since 1991.He has served as a Board Director for 6 years and was a Board President in 2002.
"In real estate, our personal integrity is of prime importance and you must be ethical at all times," McNee outlines. "I love this industry and this career."
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News Release: Feb 22, 2006
NANAIMO, BC - Darrell Paysen of Sutton Group-Resource Realty in Duncan was sworn in as the new President of the Vancouver Island Real Estate Board (VIREB) at the organizations Annual General Meeting February 22nd.
Jennifer Lynch of Coast Realty Group was sworn in as the Vice President. Past President is Jim Hoffman of Coast Realty Group in Parksville.
Over 200 REALTORS from across Vancouver Island were represented during the half day event at the Coast Bastion Inn. Dignitaries in attendance included; Dave Barclay, President, BC Real Estate Association, David Peerless, Chair, Real Estate Errors & Omissions Insurance Corporation, Scott Kendrew, President, Victoria Real Estate Board and Glenn Terrell, Executive Officer, Victoria Real Estate Board.
VIREB represents approximately 1000 licensed REALTOR members in more than 80 member offices on Vancouver Island (North of Victoria).
Area Zone directors also sworn in:
Zone 1 /Campbell River: Karol Power, Royal LePage-Advance Realty, Dan Samson, Re/Max Check Realty North Island.
Zone 2/Comox Valley: Ray Francis and Marty Douglas with Coast Realty Group.
Zone 3/Duncan: Shirley Moore with Royal LePage Duncan Realty.
Zone 4/Nanaimo: Subhadra Ghose and Ken Westfall of Re/Max Nanaimo, Jim Stewart of Coast Realty Group.
Zone 5/Parksville-Qualicum: Ian Dewar with Royal LePage Realty.
Zone 6/Port Alberni: Lyle Price with Re/Max Mid Island Realty.
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January Sales Summary Shows Busier Than Usual
NANAIMO, BC - Darrell Paysen of Sutton Group-Resource Realty in Duncan was sworn in as the new President of the Vancouver Island Real Estate Board (VIREB) at the organizations Annual General Meeting February 22nd.
Jennifer Lynch of Coast Realty Group was sworn in as the Vice President. Past President is Jim Hoffman of Coast Realty Group in Parksville.
Over 200 REALTORS from across Vancouver Island were represented during the half day event at the Coast Bastion Inn. Dignitaries in attendance included; Dave Barclay, President, BC Real Estate Association, David Peerless, Chair, Real Estate Errors & Omissions Insurance Corporation, Scott Kendrew, President, Victoria Real Estate Board and Glenn Terrell, Executive Officer, Victoria Real Estate Board.
VIREB represents approximately 1000 licensed REALTOR members in more than 80 member offices on Vancouver Island (North of Victoria).
Area Zone directors also sworn in:
Zone 1 /Campbell River: Karol Power, Royal LePage-Advance Realty, Dan Samson, Re/Max Check Realty North Island.
Zone 2/Comox Valley: Ray Francis and Marty Douglas with Coast Realty Group.
Zone 3/Duncan: Shirley Moore with Royal LePage Duncan Realty.
Zone 4/Nanaimo: Subhadra Ghose and Ken Westfall of Re/Max Nanaimo, Jim Stewart of Coast Realty Group.
Zone 5/Parksville-Qualicum: Ian Dewar with Royal LePage Realty.
Zone 6/Port Alberni: Lyle Price with Re/Max Mid Island Realty.
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News Release: Feb 2, 2006
NANAIMO, BC - Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board, for January 2006, shows unit sales and average sale prices across the board region continuing upward trends.
At the end of January 2006, total unit sales for the board area were up 40 per cent from January 2005, while the average sale price for the total board area increased 19 per cent from January 2005.
VIREB President Darrell Paysen cites buyers wanting to purchase before prices increase any further, as a driving force behind a busier than usual January.
"I think buyers are wanting to buy before interest rates go up any further, even though the increases aren't expected to be more than marginal," he explains.
The average sale price for the board area total increased marginally, from December 2005 to January 2006 but was up 19 per cent from January 2005 to $270,747.
Port Alberni posted the largest gain, increasing a whopping 56 per cent from January 2005 to January 2006, to $173,320.
From January 2005 to January 2006, Campbell River increased 28 per cent (to $234,196), Comox Valley 23 per cent (to $274,762), Nanaimo 12 per cent (to $271,520), and Parksville/Qualicum 27 per cent (to $348,265).
As a total, unit sales across the board area were up 3 per cent from December 2005. They increased substantially in Duncan, from December 2005 to January 2006, by over 47 per cent.
Unit sales from December 2005 to January 2006 were down slightly in Nanaimo, Port Alberni and Parksville/Qualicum.
Paysen notes the outcome of the federal election has also been positive for the real estate industry.
"It's been good for real estate as well as the economy as a whole that the federal government can get on with business and not have a looming election to worry about," he says.
"As a member of their local real estate Board, REALTORS have their finger on the pulse of the housing market. Consumers should contact their REALTOR if they are considering buying or selling a home."
VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.
VIREB represents approximately 994 licensed REALTOR members in more than 79 member offices on Vancouver Island (North of Victoria).
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). VIREB REALTORS are also members of the British Columbia Real Estate Association (BCREA). MLS is a cooperative marketing system used by Canada's real estate boards.
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VIREB Ready To Work With All Federal Parties
NANAIMO, BC - Multiple Listing Service (MLS) sales summary data released by the Vancouver Island Real Estate Board, for January 2006, shows unit sales and average sale prices across the board region continuing upward trends.
At the end of January 2006, total unit sales for the board area were up 40 per cent from January 2005, while the average sale price for the total board area increased 19 per cent from January 2005.
VIREB President Darrell Paysen cites buyers wanting to purchase before prices increase any further, as a driving force behind a busier than usual January.
"I think buyers are wanting to buy before interest rates go up any further, even though the increases aren't expected to be more than marginal," he explains.
The average sale price for the board area total increased marginally, from December 2005 to January 2006 but was up 19 per cent from January 2005 to $270,747.
Port Alberni posted the largest gain, increasing a whopping 56 per cent from January 2005 to January 2006, to $173,320.
From January 2005 to January 2006, Campbell River increased 28 per cent (to $234,196), Comox Valley 23 per cent (to $274,762), Nanaimo 12 per cent (to $271,520), and Parksville/Qualicum 27 per cent (to $348,265).
As a total, unit sales across the board area were up 3 per cent from December 2005. They increased substantially in Duncan, from December 2005 to January 2006, by over 47 per cent.
Unit sales from December 2005 to January 2006 were down slightly in Nanaimo, Port Alberni and Parksville/Qualicum.
Paysen notes the outcome of the federal election has also been positive for the real estate industry.
"It's been good for real estate as well as the economy as a whole that the federal government can get on with business and not have a looming election to worry about," he says.
"As a member of their local real estate Board, REALTORS have their finger on the pulse of the housing market. Consumers should contact their REALTOR if they are considering buying or selling a home."
VIREB cautions that average price information can be useful in establishing trends over time, but does not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price differential between geographic areas.
VIREB represents approximately 994 licensed REALTOR members in more than 79 member offices on Vancouver Island (North of Victoria).
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). VIREB REALTORS are also members of the British Columbia Real Estate Association (BCREA). MLS is a cooperative marketing system used by Canada's real estate boards.
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News Release: January 24, 2006
NANAIMO, BC. The President of the Vancouver Island Real Estate Board (VIREB) is pleased with the Conservative minority win in the Monday federal election, and is ready to work with all parties.
"As an industry, we are ready to work with all political parties to make the Parliament in Ottawa continue working smoothly," explains Darrell Paysen, REALTOR with Sutton-Group Resource Realty in Duncan and VIREB President.
"As a Board, we would like to congratulate all of the successful MPs across Vancouver Island. We are ready to work with the Conservatives, Liberals and the NDP."
Paysen says VIREB would also like to congratulate all of the volunteers and candidates from the real estate industry. "It takes a lot of time and energy to take a run at public office."
VIREB represents approximately 990 licensed REALTOR members in more than 79 member offices on Vancouver Island (North of Victoria).
Paysen says with a 22 per cent average house price increase across the region in 2005, REALTORS are very committed to continuing to grow the Island economy.
"The Canadian Real Estate Association has been actively lobbying for a strong federal role in housing and believe there should be a minister of housing in the federal Cabinet," Paysen outlines.
REALTORS have long advocated that the federal government incorporate systematic national debt reduction, spending restraint, and tax reduction as the basic underlying principles to guide the management of the nation's finances.
Paysen says the industry is also looking for an increase in the loan limit on the Home Buyers plan to $25,000, and revisions to the GST new housing rebate.
"When the Conservatives were in Opposition, they were responsive to our issues. We will be watching closely to see how they handle these issues once they form government."
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). VIREB REALTORS are also members of the British Columbia Real Estate Association (BCREA). MLS is a cooperative marketing system used by Canada's real estate boards.
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NANAIMO, BC. The President of the Vancouver Island Real Estate Board (VIREB) is pleased with the Conservative minority win in the Monday federal election, and is ready to work with all parties.
"As an industry, we are ready to work with all political parties to make the Parliament in Ottawa continue working smoothly," explains Darrell Paysen, REALTOR with Sutton-Group Resource Realty in Duncan and VIREB President.
"As a Board, we would like to congratulate all of the successful MPs across Vancouver Island. We are ready to work with the Conservatives, Liberals and the NDP."
Paysen says VIREB would also like to congratulate all of the volunteers and candidates from the real estate industry. "It takes a lot of time and energy to take a run at public office."
VIREB represents approximately 990 licensed REALTOR members in more than 79 member offices on Vancouver Island (North of Victoria).
Paysen says with a 22 per cent average house price increase across the region in 2005, REALTORS are very committed to continuing to grow the Island economy.
"The Canadian Real Estate Association has been actively lobbying for a strong federal role in housing and believe there should be a minister of housing in the federal Cabinet," Paysen outlines.
REALTORS have long advocated that the federal government incorporate systematic national debt reduction, spending restraint, and tax reduction as the basic underlying principles to guide the management of the nation's finances.
Paysen says the industry is also looking for an increase in the loan limit on the Home Buyers plan to $25,000, and revisions to the GST new housing rebate.
"When the Conservatives were in Opposition, they were responsive to our issues. We will be watching closely to see how they handle these issues once they form government."
REALTOR is a trademark identifying real estate professionals who are members of the Canadian Real Estate Association (CREA). VIREB REALTORS are also members of the British Columbia Real Estate Association (BCREA). MLS is a cooperative marketing system used by Canada's real estate boards.
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