Showtime folks! All the figures for two of the most interesting years your scribe has experienced in his real estate career. Back to back, we have had ('08)   a strong start with a dismal finish vs. ('09)   a dismal start with a strong finish. Talk about cycles, and, yes, I hear my faithful readers say,   he does go on about cycles!  For that, I make no apologies   what are cycles but the road map (or graph) of the vagaries of supply and demand.


For the first time ever (over ten years of these monthly ‘updates’) I am going to send out both my Jan '09 report and the current Jan '10 one, highlighting the 2007/2008 and the 2008/2009 picture. Have no fear (I do not do flyers!), only those 600 or so who have requested receipt of the monthly e-mail version will receive this. To them I say, feel free to delete the ‘historic’ version if this is  too much in one go    to the others who like to compare    please enjoy. Anyone else want to compare (?)   feel free to e-mail a request to This email address is being protected from spam bots, you need Javascript enabled to view it   I’ll happily forward and add you to the e-mail list.
 
Have you looked at your 2010 tax assessment? What does it mean? How does that figure relate to the current market value? Does it cause us concern? Do we care? Remember that the assessment for tax purposes is designed to provide an estimate for relative taxation equity.  It has never claimed infallibility and that is why the B.C. Assessment Authority permits (encourages?) property owners to appeal if they disagree with the estimate. More to the point   what is your real estate worth? (what is your net worth?) Depending on our age   how important is our January 2010 valuation?  Is it the Province’s estimate that decides the value of our homes or do we trust the market place to give us a fair price for our (most often) highest valued asset? All the tax authority can do is cause us to be charged a modicum more or less in property tax for the years we own but it has no say in what we sell our property for and what that ‘willing buyer’ will pay.
 
A quick note on an extremely important issue. Mortgage rates will rise as 2010 progresses. Assess your own vulnerability to this factor. If you have a variable (floating) rate mortgage you may be well advised to lock in with a fixed rate on all (or part) of what is owed. Speak to your lender or get the advice of a good mortgage broker soon and don’t delay this until July 2010 imposes a larger carrying cost on your lifestyle.

As we embark on this Olympic year and keeping the predicted economic improvement firmly in mind we shall track the important part that the property market has played (and will play) in 2010. The best to you and yours as we move ahead. More positive thinking for a more positive year?
 

Again, visit my website to see and  hear  the new developments.  I continue my commitment to keep you... www.OnTopOfTheMarket.ca - the  go to  site for North Shore Real Estate analysis and jumping off point for FULL market listing information.


To join the group getting the e-mail version of this  update  - send a request now to This email address is being protected from spam bots, you need Javascript enabled to view it and you’ll be assured receipt; phone me at (604) 988-7368 or visit www.OnTopOfTheMarket.ca


Alan