Below is a summary of where the buyers are coming from, who they are, and what type of properties they are buying. Contact The Dion-Ivans Real Estate Group for the latest market stats.

Property Type:
24.8% by First Time Buyers (up from 17.5% in December)*
19.8% of purchases were by Move-Up Buyers (down from 29.9%)
13.2% buying Revenue/Investment Property (up from 9.3%)*
11.6% purchasing Recreation Property (similar to December)
10.7% moving from Single Family to Strata (up from 5.2%) *
3.3% moving from Strata to Single Family (down from 4.1%) 
2.5% moving into Retirement/Seniors Community (down from 3.1%)

* During the month of January, there was a substantial increase in purchases by First Time Buyers, and Single Family Homeowners moving to Strata Unit,  and in the sales of Revenue/Investment Properties compared to December, while sales in other categories declined.

Buyer Type (Family Dynamic):
32.2% Two Parent Family/Children (up from 29% in December) **
25.6% Couple without Children (up from 20%) **
19.8% Empty Nesters/Retired (down from 21%) 
10.7% Single Female (down from 15%) 
9.9% Single Male (down from 13%) 
2.5% Single Parent with Children (down from 4%)

** In January, there was an increase in purchases by Two Parent Families with Children, and Couples without Children compared to December, while other categories saw decreases.

Moving From: 
61.5% from Within OMREB Board Area (down from 68.7% in December)
14.8% from Lower Mainland/Vancouver Island (up from 7.1%) ***
11.5% from Alberta (up from 9%) ***
4.1% from Other Areas in BC (same as December)
4.1% from Eastern Canada/Maritimes (same as December)
2.5% from Saskatchewan/Manitoba (up from 2%) ***
1.6% from Outside Canada (down from 3%)
0% from NWT/Yukon (down from 2% -- 16th month reported)

*** Compared to December, there was more migration from the Lower Mainland/Vancouver Island, Alberta and Saskatchewan/Manitoba in January, but less movement from within the Board area, from NWT/Yukon, and from overseas.

There are dozens of ways to make your property more enticing to potential buyers. For example, you can invest in getting your home professionally “staged”, which involves making it look a little like a model home. Or, you can do a major renovation to improve your home‘s look and value.

But what if you don’t have a lot of time and are on a limited budget? What can you do today to make your home irresistible to buyers tomorrow? Here are some ideas:

1. Paint

It doesn’t cost much to paint key areas of your home, like the foyer, kitchen or master bedroom. Yet the impression it makes on buyers is significant. In fact, compared to most other types of home improvement projects, painting gives you the highest payback when you sell.

2. Create Space

Homes naturally get cluttered over the years. Even a double car garage can seem claustrophobic if there are a lot of boxes, equipment and other items stored in it. Go through each room of your home and do a major decluttering. It will make your property seem more attractive and, when you sell, make moving easier too!

3. Clean & Tidy

Obviously, you’re going to make sure your home is clean for viewings. But you’d be surprised what a homeowner can miss and a buyer notices. Closets, laundry rooms, side yard, basement furnace room and all other nooks and crannies should be as tidy and clean as possible.

4. Roll Out the Red Carpet

Not an actual red carpet! But you do want the entrance way to your front door and into the foyer to make the best impression possible.  After all, those are the areas that a buyer sees first. Make sure walkways are clear and clean. Ensure that when a buyer opens the front door and walks in, the impression he or she gets is that of a great looking place to live.

These four tips don’t take much time or money to implement. Yet, they can all help make your home even more irresistible to buyers than it is today.

Want more tips on preparing your home for sale? Call the Dion-Ivans Real Estate Group today!!

Buying or selling a home may be one of the biggest financial transactions you will make in your lifetime. It can also be a very complicated and frustrating process.You will need a professional to help you every step of the way. A professional who is highly trained, knowledgeable and has ethics beyond reproach. Your best friend in a real estate transaction is a REALTOR®, a member of your local real estate board and the British Columbia Real Estate Association.You can expect a great deal from a REALTOR® whether you are buying or selling.

When you are selling your home . . .

• The REALTOR® you choose is working for you, the vendor, and not for the people who are the potential buyers of your home.
• The REALTOR® gets paid, usually in the form of a commission, from a percentage of the proceeds of the selling price of your home.
• In line with the strict code of ethics the REALTOR® must follow, he or she will disclose this arrangement to you clearly, fully and in writing.
• The REALTOR® is experienced in the marketplace and can offer you expert advice on what price to set for your house, how you can make your house more attractive to potential buyers and what marketing plan will sell your home quickly, efficiently and smoothly.
• The REALTOR® has contacts among potential buyers currently looking for a home. He or she can quickly separate the merely curious "lookers" from the "buyers".
• As a member of the local real estate board, the REALTOR® can list your home on the Multiple Listing Service (MLS®), which gets the details about your home into the hands of thousands of potential buyers. Only REALTOR®S are able to list homes on MLS®.

When you are buying a home . . .

• The REALTOR® will make it crystal clear to you whether he or she is working for you, the buyer, or the seller.
• Special arrangements can be made so that the REALTOR® becomes your agent for buying a home. The REALTOR® is bound by ethics to disclose this relationship to potential vendors you may deal with.
• With his or her wide experience and contacts, the REALTOR® can direct you to your potential "dream home" much more quickly and efficiently, saving you many hours and lots of frustration checking the ads and driving around.
• A REALTOR® has access to thousands of listings on the Multiple Listing Service (MLS®).
• The REALTOR® is usually paid by the vendor; this is the case whether the REALTOR® works for the seller or the buyer. When a REALTOR® working as your agent helps you buy a house, he or she usually is paid from the commission paid to the vendor's REALTOR®.

Whether buying or selling, a professional REALTOR®'s services can be invaluable. Their advice can save you from making bad choices and help make your home buying or selling experience a positive one.

Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.

The Canadian economy grew 0.3 per cent in November, following 0.1 per cent growth in October. Production was higher in most industrial sectors with the main contributions to growth coming from manufacturing, oil and gas and mining. 

Our updated fourth quarter GDP estimate is currently reading just 1.1 per cent growth (at an annual rate), in-line with the Bank of Canada's most recent forecast. We anticipate that growth will continue to be modest through the first half of 2013 before accelerating in the second half of the year and into 2014.

Information provided by www.bcrea.bc.ca 

Why is it so important to know how much you can afford to spend on a home?

Two reasons.

First, you don't want to buy a property and then find out, only after you’ve moved in, that you can't financially maintain it. That would mean having to resell it under stressful conditions.

Second, you don't want to settle for a property that's less than ideal, when you really could have afforded the "dream home" you've always wanted.

So how do you figure out how much you can afford to pay for your next home?

The first step is to talk to a good REALTOR®. He or she will help you gain a clearer understanding of how much your current home will likely sell for in today's market. That amount, together with other financial resources you might have (such as savings), will determine your down payment.

The next thing you’ll need to figure out is your mortgage. Your REALTOR® can help you find a lender who will take a variety of factors into account – income, credit rating, debts, expected down payment, etc. – to calculate the maximum amount of mortgage for which you qualify.

Say, through the proceeds of the sale of your home combined with your savings, your expected down payment is $90,000. If the lender authorizes a mortgage of $270,000, then you can afford a $360,000 home.

Of course, that doesn't mean you'll need to spend that much. In fact, a home that meets your needs in terms of property type, features, and neighbourhood, may in fact cost you less.

One thing is for sure. A good REALTOR® can work with whatever amount you can afford and show you homes on the market that most closely meet your needs.

Looking for a good REALTOR®? Call the Dion-Ivans Real Estate Group today!!