Market Update September 2015

Market Update September 2015

The Market

If you list it the will come. And bid it up over ask and it will be gone. In just about all parts of town the market continues to remain well above the ten year average for sales activity and prices keep inching upward.

If you are interested in greater detail dig into the attached stats for your own area.

No doubt the power outage gave buyers at month end pause, and perhaps we will see that reflected in September`s figures. September is usually a quieter month with people sneaking away for that last long weekend get away and then adapting to the back to school traffic and craziness that ensues.

Will this be enough to distract a few buyers and ease some pressure on the market…time will tell.

For now the story remains the same:

Supply – limited.

Demand – steady.

 

The Stock Market

Apparently there were some events in the stock market as of late.

Also the word is we are in a technical recession, apparently we have been for 6 months. Now that we have been told perhaps we will behave accordingly which will lead us into a more meaningful recession.

Having an investment focus on local affordable rental properties I do not emotionally invest in news of stock markets plunges and recessions, technical or otherwise. I look at the work that our tenants do, and for the most part see that, and thus our rental incomes, as somewhat recession proof.

I like to keep it simple.

 

Rates

The upcoming Bank Of Canada meeting has most predictions calling for no change at all. (no change until 2017 according to this)

I concur.

Prime remains more likely to drop before it rises, and I remain committed to my own variable rate mortgages.

Fixed rates continue to languish in the low to mid two percent zone. Also with little sign of change on the horizon.

 

A useful headline

Best Cities for Work in B.C – BS Business

 

A useful service

If you are in a community that has given you the pleasure of a Green Bin to split your food waste off into you have no doubt experienced a whole new smell of summer.

Check Enviro Can Clean. These guys will wash those bins out on site for you for a modest fee.

 

On Moving

Although we had no plans to move for years to come, life is variable (and your mortgage should be too). And so we have spent the past week, and the remainder of this weekend doing just that. Moving.

It is great to be reminded of the stresses of this experience, perhaps not every three years though.

Here are a few tips and links to take a degree of stress out of moving:

Plan out the donation runs, and the dump runs, a solid 4-6 weeks in advance of moving day. The less clutter you are working around the better.

Use Frogbox – a few weeks in advance you can start packing, and easily stacking (to the ceiling), these hard plastic containers. Containers that your movers will love you for using.

Book your movers the day you remove subjects, the more notice the better.

We have used, more than one, the machine that is James Fox from Strong Brothers. He will bring two guys with him and usually outpace them singlehandedly. James is a moving machine!

Now, I know you cannot arrange for a power outage a few days before you move, nor would you want to. But find the silver linings in whatever comes your way. For us it was having only to move all our food a few steps to the green waste bin. Rather than packing and moving it.

Our cat packed himself into  the lobster pot.

Our cat packed himself into the lobster pot.

That’s it for this month.

Happy House-hunting!

 

Dustan Woodhouse

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