Vancouver House Prices?

There is a great article in the Vancouver sun from Derrick Penner regarding the future of real estate values, after the olympics. We should see prices remain srable as there is a lack of new invetory being built and in addition with projected increase in interest rates. This great news for the marketplace. If we see stabization in home prices this will help the ecnomy in BC.

Vancouver House Prices Affected By The Olympics?

January 2010

Despite claims to the contrary, real estate prices for Olympic host cities don't experience a boom and bust cycle, according to a study by the University of British Columbia's Sauder School of Business.

The UBC study is the first to use real estate variables to test an Olympic Games' economic impact on host cities. Researchers analyzed housing prices and construction employment of local real estate markets in the U.S., Canada and Australia for the period from when a host city wins the Games to six years after the Olympics.

Tsur Somerville, lead author of the report said, "We do not find support for the argument of host city backers that the Olympics delivers positive economic benefits, nor of the arguments made by opponents that there is some post-Olympic bust."

The study examined the real estate prices for the host cities of Atlanta, L.A., Sydney, Australia, Calgary, Salt Lake City and Vancouver and found no statistically significant increase in the real estate prices of host cities that differed from the price increases of comparably similar cities that did not host an Olympic Games.

The most significant real estate-related impact is the increase in construction jobs. The study found that pre-Game construction employment grew by 1.7% in Sydney, 4.3% in Vancouver and 3.9% in Atlanta and Salt Lake City.

Jake Wetzel, co-author of the report and a member of the Canadian gold medal-winning rowing team in Beijing said, "While findings suggest no economic gains, the societal impact of valuing the Olympic ideals goes far beyond economics and politics." Jan, 2010

Continued success!
Your Mortgage Professional,
Jared Dreyer, AMP
Call of Click 604 649-5991 www.dreyergroup.ca
Email me now with the next person you know that could benefit from my service jared@dreyergroup.ca

Mortgage Renewals

Most clients are still renewing at there exsisiting lenders at the posted rates. a recent survey saw that 85% of canadian mortgage holders sign the renweal notice and send it back to the lender. This is costing you the client thousands of dollars! We are able to hold a rte for 120 days before your mortgage is up and still continue to shop for the lowest rate. Every client that has a mortgage coming up needs to shop with an independeent accrediated mortgage professional before they sign with the bank.

Commercial Mortgages

I read an article today on the potential downfall in commercial real estate which could affect the canadian markets quite severally. The us is haeding for a mojor correction in the fiancing of the current buildings and any new projects are at 50% or lower fiancing. I did talk with a commercial realtor today in the local south surrey area and the market is very strong and doing well. He said that the markets have been talking about this for two years and have factored the pricing ito this already. If there is a commercial meltdown in the US, we are going to see all secotrs be hurt as this will mean more job loss. Something to watch for in the ecnomy.

Vancouver Unaffordable?

There was an article in the vancouver sun today about our city being the least affordable in the world. I can see how this could come accross to some people or even the outsdie world. The realty in my opinon is that we have high land development costs, shortage of land and a grwoing population coming inoe the city. We do not have the luxury of extra land, unless the agriclture is radied and taxes are not going down. So i guess we will remain unaffordable, stats wise.

Business Excellence Awards

All of us at Dreyer Group would like to congratulate Curtis Christopherson and Innovative Fitness on winning the well-deserved White Rock South Surrey Chamber of Commerce Business Excellence Award (8-14 employees category) last night at Hazelmere Golf and Tennis Club. The team at Innovative Fitness works tirelessly to make our community healthier, happier and more vibrant. Congratulations as well to all the other nominees and winners of last night’s awards. It was terrific to see old friends and meet new ones.

I would like to take a moment to recognize my family for their support as well as my amazing team for whom we would have not been nominated without their commitment and dedication. We would also like to express our gratitude to the Board, Executive, Committees and all the volunteers at the Chamber.

Continued Success!
Jared Dreyer
Dreyer Group Mortgages Inc.
Proud member of the VERICO brokers network.

Not All Brokers Equal

These days lenders of mortgages in canda are changing the rules fast and furious on the direction of mortgages.What this means is that they are picking thier partners to work with. The canadian mortgage lender would like good business from a select few now vs the masses as the old days were. To the consumer this means they need to ask better questions when choosing thier mortgage broker to represent them.

Bank Of Canada

The Bank of Canada is set to meet tomorrow to on the rate policy. Most everyone is predicating that we are going to remain stable on the rate fromnt till June. We are still seeing he dollar at a very high level ($0.97) and this level is not helping central Ontario manufacturing. We have also now seen the varible rate discouting come back to better pricing which now means that 1.95% is avaliable. The fixed rates have even slid back down to 3.79% fro a five year term. Now is one the best times to look at your mortgage strcuture to amke sure that it is the right plan.

BC Real Estate Up 72%?

This is what the headlines are for real estate sales in the month of December in BC. Yes sales are up when you compare December 09 to December 08. We do need to keep in mind that Dec 08 was one of the worst months in real estate sales in 20 years. So, do not get over panic that a huge bubble is occuring in real estate sales. We currently have unbelivable low interests rates and prices dropped which has created a very attractive enviroment for purchasers.

Canadian Mortgage Holders Cautious?

There was an article released today from CAAMP survey that said people are taking more fixed rate mortgages then variable rate mortgages over the course of the first eight months of last year. I believe this was entirely due to pricing on the variable rate mortgages which went from prime-.90 to prime plus 1.00% over the course of a very short time in late 200/2009. Since the credit markets have improved variable rate pricing has as well and we should start seeing a trend back to variable rate mortgaes. Currently the difference between variable and fixed rate is 1.85% higher on the fixed. That is a lot of extra interest being paid to the banks vs your pocket!

BC Real Estate Sales Up

Stats jusr released and we saw December sales up 132% over last December. Camerion Muir stated that we started on a 25 year low of sales and then ended the year on a 20 year high of real estate sales. With mortgage ratesat still record low rates and to maitain at these levels for the first six months of the year we should see sales continue at good levels.

A New Decade Ahead

Hello Friends,

A very Happy New Year to you and your family!
I can't believe another decade has come and gone. I look back with fondness and forward to the future with great anticipation.
How things have changed....

Last night our family got together and watched all our old videos and pictures, but not in the way I did when I was a kid. We used our PS3 to link wirelessly to our Apple which in turn fed all our videos and pictures to our flat screen TV. As my 12-year-old son managed the PS3 controller with precision to scroll through our family memories, I was overcome with a sense of how things have changed.
I too am on the technology bandwagon and have a Twitter account and tweet daily. I also blog, do video casts, cook live on my iphone with Jamie Oliver and manage my workout schedule with ifitness. I never would have thought I would be doing this a year ago.
This past year I look back in reflection and I am so grateful…
For my children who are fast becoming their own wonderful persons as they move from 10, 11 and 12 year olds to tweens. Help! Recently on a a flight with my family at Christmas break my daughter asked the flight attendant if they recycle while placing a water bottle into a garbage bag with other waste. Amazing!
As a team and with your help, I am thrilled that we raised over $4000.00 for Dreyer Group Smiles in 2009 - our charity that raises money for children’s homeless shelters in the Fraser Valley. We have also partnered with an inspiring group of business leaders and entrepreneurs with a vision to rebuild a community in Swaziland, South Africa, called Bulembu. click here to watch the video.... it's incredible.

I am grateful for my health and completed my first marathon this year in Victoria. Thank you to my friends and coaches, Neil Yamorshuk and Jay VanUnen - I couldn’t have done it without you!
And as always, I am grateful to live in this beautiful city and country. We are so fortunate.
This coming year, I will continue to dedicate myself to helping my friends, clients, team, industry and of course my family achieve their goals. I am turning 40 this year and feel like I have only just begun giving and learning!
A warm and heartfelt thank you for supporting my business this past year.

I wish you all the best for a happy and healthy 2010!

Mortgage Changes For Canadians?

There has been a lot of talk recently of changes of mortgage regulations by the Federal Government. These changes could include shortening the amortization period of mortgages from 35 years to 30 years and potentially increasing the minimum down payment from 5% to 10%. We should have a better idea within the first quarter if any of the changes come into effect. In the interim, if you anyone you know is considering purchasing a home or refinancing your existing mortgages, no is the best time to do this before any proposed changes come to fruition.

Interest rates hold steady at all time historic lows for both fixed and variable rate mortgages. Call me to discuss the best mortgage option for your financial goals.

As an independent mortgage professional, our team shops over 400 mortgage products across the county to ensure you get the best mortgage at the lowest rate.

Why Should You Look At your Mortgage?

You should be looking at your mortgage as part of your plan for 2010. Need to make sure you have the best options for your plans. This means looking at the terms of the mortgage, interest rate, and is there a need for new mrtgage money in the future.
With the rates at all time lows and the federal goverment looking at making chages to the mortgage amotization period. This could be the best time to do any type of refiancing or purchasing a home.

Committed For 2010?

As we enter 2010, i have made the comittment to this blog. As i write this we have just come off a comeback year in full force in the mortgage world. We saw fixed and variable rates plummet to the lowest levels in history. This spurred mortgage holders to refiance exsisting mortgages and home sales throughout Canada soar. Will this last or is it a bubble? That is the popular question of the week. The answer will come on Jan 5,2011. In the meantime get your share this year.