Vancouver Real Estate Market Levels Out Post-Olympics

Sales of residential homes in Vancouver have slowed considerably this summer in relation to last, but remain strong compared to recession figures of 2008.

2010-08-13

VANCOUVER, BC, August 13, 2010 (Press-News.org) The Vancouver real estate market appears to have mellowed - at least for now. Following the predictions of many, Vancouver real estate sales have slowed since peaking this past April. April also saw the residential benchmark price of Vancouver listings rise to an all-time high, but by July 2010 that $593,419 price had dropped to $577,074, reports the Real Estate Board of Greater Vancouver (REBGV).

According to the REBGV, since this time last year, sales of detached, attached and apartment properties have dropped by over 42% across the board. While summer usually marks a slower time for Vancouver real estate, the drastic shift from last July's numbers could signify a levelling out of the Vancouver real estate market. The latest statistics show a 41% decrease in residential sales from as far back as July 2007, although the numbers are still 3.7% higher than that same month during an economically unstable 2008.

So what does this mean for the Vancouver real estate market? Post-Olympics, Vancouver homes may be more reasonably priced. "The pace of home sales and listings [are] easing off in our market," notes REBGV president Jake Moldowan, "creating greater affordability. Activity in today's marketplace is clearly trending in favour of buyers." This trend can benefit sellers as well, however, as more buyers in the market can lead to a faster sale. Moldowan explains that the current average of 45 days to sell a home represents a healthy market. After skyrocketing real estate prices in late 2009 and early 2010, a healthy market for both buyers and sellers seems a reasonable compromise.

For more information on the Vancouver real estate market and new Vancouver listings, please contact experienced Vancouver Realtor Jules Seaman.

Statistics and quotations courtesy of the Real Estate Board of Greater Vancouver.

Jules Seaman is an experienced Vancouver Realtor who can offer advice and services pertaining to the Vancouver real estate market. For further information, please visit http://vancouver-real-estate-bc.ca.

[Attachments] See images for this press release:

ELSE PRESS RELEASES FROM THIS DATE:

New York City Podiatrist Offering New Pinpointe Footlaser for Fast and Effective Nail Fungus Removal

2010-08-13

Experienced podiatrist in Manhattan, Dr. Ernest Isaacson, is now offering PinPointe FootLaser, a new breakthrough in toenail fungus treatment. The new laser technology removes and treats toenail fungus safely, quickly and without pain. The new PinPointe FootLaser from this New York City podiatrist uses a special laser beam to reduce the infection in your toenails. The laser gently passes through the toenail to penetrate the infection deep in the nail bed without causing damage to the nail or surrounding skin. Because this treatment is laser based, no anesthesia is required, ...

Improving a Business' IQ: Strategies to Make Business Work Better Through Research

2010-08-13

"Firms don't have a good measure of R&D effectiveness or what I call, Firm IQ," says Anne Marie Knott, associate professor of strategy at Olin Business School, Washington University in St. Louis. Knott's business research focuses on how to measure a firm's IQ and with a new National Science Foundation grant in hand, she's closer to figuring out what makes smart firms tick. Knott has received a grant from the NSF for a study to identify the characteristics of firms with highly productive R&D (high IQ) versus those with less productive R&D (low IQ). During the pilot ...

A Tuscany Agritourism with Pool Just Outside Florence, Italy

2010-08-13

Podere Vignola offers short-term apartments in Florence and the Tuscan countryside. Four apartments are positioned in a romantic agritourism in Chianti, just 15 minutes from the Florence city center, and another apartment is located in the historical center of Florence, just a few steps from the Uffizi gallery. You can read further information by visiting www.Poderevignola.com, the new website of the company that owns the apartments. The website is shared in two different sections: the area devoted to the agritourism in Florence and its vacation apartments and the area ...

Consider Tax Impact When Negotiating Employment Suits or Severance

2010-08-13

Every April, our collective stress level rises as we scramble to meet our tax deadlines. Particularly tricky federal tax issues come up when an employee either receives money from a lawsuit settlement with his or her employer, or severance pay upon leaving a job. In most situations both are taxable as income, but subtleties in the law create some exceptions. Taxation of Settlements Generally A settlement is an agreement reached between parties to a lawsuit. Usually the plaintiff receives money damages to compensate for his or her injury, and in exchange agrees to ...

North Carolina's Contributory Negligence Rules Outdated and Unfair

2010-08-13

Imagine that you were in a bad car crash. Not only was there extensive property damage to your vehicle, but you also suffered severe injuries and have thousands of dollars in unpaid medical bills to prove it. In an attempt to recoup your losses from the insurance company of the driver who hit you, you file a personal injury lawsuit. While there is some question about whether the other driver is 100% at fault, you are confident that he is at least partially responsible for your losses. The court, however, disagrees and finds you shared fault - 10% of it - for causing ...

Public Outcry for FDA Reform

2010-08-13

High-profile, deadly and previously undisclosed side-effects of mass-marketed prescription medications like Vioxx and Avandia have consumer watchdog groups, medical professionals and the public at large wondering if the Food and Drug Administration can stem the tide of "bad medicine." Most people think of the FDA as the gatekeepers of our country's food and medical supplies - there to prevent any harm from befalling us, responsible for making sure that only the highest quality products hit the marketplace. Unfortunately, in its quest to be better, the FDA may have hindered ...

Federal and Florida State Policies Put Bikes on More Equal Footing

2010-08-13

Today cyclists are a familiar sight on Florida's streets, but it has only been in the last generation or so (since the 1970s) that cycling among adults has really taken off. Before that, cycling was generally regarded as a children's pursuit. While many Florida roads have had bike lanes added to them, in many cases it's not a perfect fit, and on other roads adding bike lanes has proved difficult due to traffic patterns, natural and man-made obstacles, and expense. In March of 2010, Transportation Secretary Ray LaHood announced a major policy change, saying that it was ...

An Increase in Efforts to Enforce Financial Fraud Crimes

2010-08-13

Federal officials are not keeping secret their escalated efforts to prosecute financial fraud crimes involving U.S. government funds as well as U.S. government-backed or government-insured funds. Prior to the economic turbulence of the past few years, civil and criminal actions against firms suspected of defrauding government agencies or their proxies were mostly separate matters. But FBI investigators and Department of Justice prosecutors have announced their intention to investigate alleged wrongdoing involving federal funds, and individual criminal indictments have become ...

Too Much Plastic Surgery Can Have Devastating Effects

2010-08-13

Medical malpractice claims against plastic surgeons can involve a variety of procedures. Patients who undergo breast implants, breast reduction, liposuction or facelifts may have to consider legal action if the medical professional they trusted caused severe scarring, infection, disease, malformation, tissue damage or other unexpected and often unexplained results. People who sought vast improvements in their personal appearance may face a future of embarrassment, pain, discomfort, medical complications and corrective surgeries. But imagine the combined effect of undergoing ...

High Stakes for Overdue Borrowers: Are Debtors Prisons Coming Back?

2010-08-13

Overwhelming debt puts plenty of pressure on borrowers who must endure constant creditor harassment while they choose which obligations to face during difficult financial times. But that is a minor nuisance compared to spending a night or two in jail. The practice of locking up debtors who fail to respond to legal notices is not practiced everywhere, but reports from communities across the country reveal that debt collection companies have enlisted local authorities to use the full force of the law in enforcing warrants for even minor debt. Formal debtor's prisons were ...

LAST 30 PRESS RELEASES:

Global research team develops advanced H5N1 detection kit to tackle avian flu

From food crops to cancer clinics: Lessons in extermination resistance

Scientists develop novel high-fidelity quantum computing gate

Novel detection technology alerts health risks from TNT metabolites

New XR simulator improves pediatric nursing education

New copper metal-organic framework nanozymes enable intelligent food detection

The Lancet: Deeply entrenched racial and geographic health disparities in the USA have increased over the last two decades—as life expectancy gap widens to 20 years

2 MILLION mph galaxy smash-up seen in unprecedented detail

Scientists find a region of the mouse gut tightly regulated by the immune system

How school eligibility influences the spread of infectious diseases: Insights for future outbreaks

UM School of Medicine researchers link snoring to behavioral problems in adolescents without declines in cognition

The Parasaurolophus’ pipes: Modeling the dinosaur’s crest to study its sound #ASA187

St. Jude appoints leading scientist to create groundbreaking Center of Excellence for Structural Cell Biology

Hear this! Transforming health care with speech-to-text technology #ASA187

Exploring the impact of offshore wind on whale deaths #ASA187

Mass General Brigham and BIDMC researchers unveil an AI protein engineer capable of making proteins ‘better, faster, stronger’

Metabolic and bariatric surgery safe and effective for patients with severe obesity

Smarter city planning: MSU researchers use brain activity to predict visits to urban areas

Using the world’s fastest exascale computer, ACM Gordon Bell Prize-winning team presents record-breaking algorithm to advance understanding of chemistry and biology