Property Type:
25.9% by First Time Buyers  (up from 16.2 in March)*
18.6% of purchases were by Move-Up Buyers  (down from 24.6% )
11.8% buying Revenue/Investment Property  (up from 10.6%)*
10.5% moving from Single Family Home to Strata Unit  (same as March – 10.6%)
5.5% moving into Retirement Home/Seniors Community  (down from 7.8%)
4.5% moving from Strata property to Single Family Home  (down from 6.1%)

* During the month of April, there was substantial increase in purchases by First-Time Buyers and a nominal bump-up in Revenue Property purchases by Investors, while other categories saw a drop or remained the same as the previous month.

Buyer Type (Family Dynamic):
24.8% Two Parent Family/Children (up from 23.1% in March)**
22.6% Empty Nesters/Retired (down from 27.5%)
21.7% Couple without Children (down from 25.8%) 
12.8% Single Male (up from 7.7%)**
10.6% Single Female (down from 12.6%)
5.3% Single Parent with Children (up from 2.2%)**

** In April, there was an increase in purchases by Two Parent Families with Children, and a significant rise in purchases by Single Males and Single Parents with Children, while other categories saw decreases.

Moving From: 
56.6% from Within OMREB Board Area  (down from 57.6% in March)
19.0% from Alberta (up from 17.9%)***
11.1% from Lower Mainland/Vancouver Island  (up from 8.7% )***
9.3% from Other Areas in BC  (down from 10.3% )
1.3% from Saskatchewan/Manitoba (down from 2.7%)
1.3% from NWT/Yukon (up from 0%)***
0.9% from Outside Canada  (down from 1.1%)
0.4% from Eastern Canada/Maritimes (down from 1.6%)

*** Compared to March, there was more movement from Alberta, Lower Mainland/Vancouver Island, and NWT/Yukon during April, and less migration from all other areas.

Information provided by www.omreb.com. 

Call The Dion-Ivans Real Estate Group for more information!!

Even if you’ve purchased a home before, you may still find the terms and acronyms used in the real estate industry a little baffling. What in the world does “4B/2B” mean anyway? Here’s a quick list that will help you get a handle on the most common lingo you’re likely to come across.

FP. Fireplace. It might also indicate type. For example, FP-gas.

DK. Deck.

4B/2B. The first number refers to bedrooms; the second, bathrooms. So, in this case, there are four bedrooms and two bathrooms. (Sometimes the letters are left out, so you might see “4/2” in a property description.)

HDW or HWF. Hardwood floors.

In-law potential. This refers to a basement or other section of the house that can be converted into a separate apartment. 

MLS. Multiple Listing Service. This is a service that provides its members, primarily REALTORS®, with detailed information on all the properties for sale in the area.

Closing costs. These are the additional costs that are due from the buyer upon closing and often include lawyer’s fees, land transfer tax, and other costs.

AC or A/C. Air conditioning.

WD or W/D. Washer/Dryer.

Fin W/O. Finished walkout.

Of course there are many other buzzwords and acronyms you’re bound to come across when you shop for a home. Don’t be afraid to ask what they mean.

Interested in more tips on how to make your home hunting experience go smoothly? Call the Dion-Ivans Group today!!

Canadian building permits rose 8.6 per cent in March to $6.5 billion, the third consecutive monthly advance. Much of the increase was a result of large increases in the Ontario and Alberta non-residential sector which pushed non-residential permits 19 per cent higher while residential permits posted a 1.7 per cent increase.

After a significant decline in February, BC building permits increases a modest 1.7 per cent in March, with balanced contributions to growth from the residential and non-residential sectors. However, on a year-over-year basis, total building permits were close to 7 per cent lower.

Looking at permit activity in BC's four major census metropolitan areas (CMA),  permits rose 43 per cent in the Kelowna CMA from February, but were 14 per cent lower year-over-year. In the Abbotsford-Mission CMA, permits jumped 70 per cent on a monthly basis but were 21 per cent lower than March 2012. In the Vancouver CMA, permits fell 12 per cent on both a monthly basis and year-over-year. Finally, in the Victoria CMA, permits more than doubled compared to February and were 9 per cent higher than March 2012.

Information provided by www.bcrea.bc.ca

When you’re looking for a new home, you want to find one in a great neighbourhood – or, at least, in a neighbourhood that is on the upswing. How can you tell if a particular area is improving? Here are some common indicators:

• Pride of ownership. Take a walk around the neighbourhood. Do you get a sense that people take good care of their homes? Are the lawns mowed? Is the landscaping trimmed? Are flowers planted? Homeowners are more likely to look after their properties when they like where they are living.
• Home improvements. Are people investing in their homes? Are they getting their driveways re-done? Their windows replaced? Are there signs of home improvement projects? If so, this is a clear indication that homeowners like the area enough to invest in their properties.
• Real estate sales activity. Do homes tend to sell quickly in the area? Do they sell for a good price? If so, the neighbourhood is probably in demand. If people want to live there, it's a desirable area.
• Business investment. Are businesses investing in the surrounding area? Is there an increase in the number of upscale shops, health clubs, restaurants, and other commercial enterprises that often locate near desirable neighbourhoods?
• Community involvement. Are there signs that the community plays an active role in the look and lifestyle of the neighbourhood? Are there neighbourhood picnics, yard sales and other get-togethers? Check Facebook.com to see if the neighbourhood has a community page.
• City plans. Find out what plans the city has for the area. Will there be road improvements done in the near future? Are there any major construction projects on the schedule, such as a new school or community centre. Although such projects can be disruptive in the short term, they may improve the neighbourhood – and, as a result, boost the value of any home you buy – in the long-term.

Of course, the best way to find out the desirability of a neighbourhood is to talk to a good REALTOR® who knows the area. Call The Dion-Ivans Real Estate Group today!!