Subtle Ailments Can Turn Away Prospective Buyers

Things like unkempt yards and ugly wallpaper are obvious turnoffs, but there are other things that can jinx a sale. Before hammering a For Sale sign into the front lawn, most sellers rectify major deterrents including faded paint, broken windows and messy yards. Unfortunately, real estate agents say many miss a handful of less obvious ailments which can have buyers turn on their heels long before they have finished touring a home. It is the small things that make the difference. The home should have a feeling that is well maintained and allowing buyers no excuses to walk away. Many small problems can be repaired with a screwdriver or a hammer, or by spending a few hours on the end of a broom or paintbrush. The cost is often less than $500. Here are ten problems sellers often ignore when their properties go on the market: Grout around ceramic tiles in kitchens and bathrooms is loose, missing or discoloured. No one likes a skuzzy bath or kitchen area, so invest a few bucks in caulking and use a toothbrush and cleaners n dirty grout. Mailboxes and address numbers are crooked, dirty or pitted. Poor numbers make a home hard to find and a loose mailbox shows lack of maintenance that home shoppers may feel extends throughout your home. A new mailbox and letters will cost less than $75, a good investment since they’re among the first things a potential buyer sees. Rooms are dark. Vampires like dark rooms, but most homeowners don’t. Replace old lightbulbs, wash windows and throw open drapes, blinds and awnings. Wallpaper and paint are outdated, dirty or too dramatic. Sounds boring, but go neutral when you freshen up your paint and paper because there’s less chance you’ll turn off a buyer who, more likely than not, …

Selling Your Home – Doing It Yourself!!

Your home has been cleaned, freshly painted and you are ready to put it on the market. Could you sell it by yourself? No doubt you could, but when you consider all aspects of the selling process, chances are you will choose to use the services of a REALTOR – a licensed, trained professional who has the knowledge and skills to ensure you get the best possible price and that the selling process goes as smoothly as possible. Frequently, people who attempt to sell their home without the help of a REALTOR do so in hopes of saving the commission or fee. There is a good chance, however, that such an approach will not pay off as potential buyers will often submit lower offers in such cases. In addition, without the help of a REALTOR and access to the Multiple Listing Service® (MLS®) it will likely take significantly longer to sell your home. The MLS® is best described as a co-operative marketing system to ensure maximum exposure of properties for sale. Fundamentally, it is a central registry of properties used by REALTORS to match buyers with properties for sale. Before attempting to sell your own home, ask yourself the following questions: Do you have sufficient knowledge to determine the price range for your home? Are you aware of changing market conditions and of recent sales of similar homes in your area? Do you have the skills and resources to advertise and market your home effectively? Do you know what types of financing are available? Are you informed about various financing methods? Do you have a network of contacts to produce potential buyers and are you able to screen out unqualified prospects – people who are just curious? Are you comfortable inviting strangers into your home at 9 p.m. because they …

Reviewing An Offer To Purchase

If you have ever sold a home before, you know there is a lot more to an offer to purchase than merely the price the buyer is willing to pay. Other important factors that must be weighed carefully include a suitable closing date, financing, conditions and items which are to be included in the sale. It is a good idea to discuss all of these points with your REALTOR. Closing Date The closing date is one of the most important things to consider. Is it going to involve extra cost to you to have to move on a particular date? Are you going to have to store your furniture because of a short closing or face the prospect of carrying two properties for a couple of extra months because of an unusually long closing? Financing Financing also has a great impact on the offer. For example, if you have to discharge existing debts and mortgages against the property, be sure to verify whether you will have to pay early discharge fees. In the offer, the buyer may also request that you take back a mortgage. If you are retired and you are trading down to something smaller, you may want to take back a mortgage and enjoy the resulting income. On the other hand, if you are trading up, you may not be interested in this option because you may need the funds for a bigger down payment. Conditions Conditions on financing are generally quite short and, as a seller, you will want to know if the buyers will be able to get the necessary financing before you accept their offer. You may be better off with an offer that is slightly less in price but has fewer restrictive conditions. Items included in the sale Buyers may wish to include …

Preparing Your Home For Sale

When your home is for sale, it’s often more than just the purchase price and location that will make or break a deal. Making your home look its very best and presenting it as a desirable place to live are also very important. Work with your REALTOR Your REALTOR can give you an objective opinion of what you need to do. REALTORS have the experience and knowledge that can help identify problem areas or suggest improvements. In most cases, REALTORS will not suggest major renovations. A few minor repairs here and there and a thorough cleaning are usually all that are required. Cleaning up the homestead Virtually all buyers are on the lookout for one thing – a clean home. Many will simply walk away if a home looks uncared for and, at the very least, an untidy home will fetch a lower selling price. Ensure your home is spotless and free of clutter. The two most important rooms in a buyer’s mind are the kitchen and the bathroom. Pay particular attention to these areas – they should sparkle and shine. Making repairs There are certain items that must be repaired if there are problems. A leaky roof, for example, must be fixed. Any electrical problems will have to be addressed. Furnaces, water heaters and plumbing also fall into this category. Other areas may not need major repairs but will need attention. These can include leaky faucets, holes in window screens and any broken glass, etc. If some of your walls are too dirty to come clean, you may wish to consider a paint job. Carpets and rugs should also be clean and in good repair. Outside and in Take a close look at the state of your yard. If you are showing your home in the summer, trees and …

Making Your Home Attractive To Buyers

Are you thinking of selling your home? If you’re one of the many homeowners who choose this time of year to move – whether you’re trading up or down, or simply relocating -you’re probably starting to prepare your home for the sale. Before you become overwhelmed by the task, it’s a good idea to sit down and look at your home objectively. An attractive, well-kept home generally has a better chance of selling a little faster. Also, the old adage “first impressions are lasting ones” is very true. If you haven’t made substantial improvement or changes over the years, it’s not a good idea to take on major renovation projects simply to sell your home. This can be an expensive and lengthy procedure and there are no guarantees that you’ll be able to recover all of your costs. Instead, try to determine what types of minor cosmetic improvements can be made, like general cleaning, painting floor refinishing, and so on. These projects generally don’t require a lot of capital and your home can be greatly improved by them. Consult with your REALTOR to see what types of improvements make the most sense. START WITH THE OUTSIDE An inviting exterior ensures that potential buyers will inspect the interior, so it’s important to keep your lawn and hedges trimmed and edged, the flower beds cultivated, and your yard free and clear of clutter and refuse. If you have any loose siding or pavement, it’s a good idea to get these items repaired. And if you have any cracked or broken windows, get them fixed as well. Missing shingles or eaves troughs should also be replaced and loose shutters or awnings secured. You may also want to consider painting the exterior of your home to spruce it up a little. And if you …

LOW COST Exterior Improvements

Exterior Improvements – Minimal or No Cost Rake leaves, mow lawn and keep edges neat. Lawns and flowers should be weeded regularly. Trees and shrubs should be pruned and trimmed. Remove old lawn mowers, tractors, disabled autos, broken lawn ornaments, topless tables, armless lawn furniture and seatless chairs. They are reasons for a buyer to make a u-turn. Hoses should be coiled and place inconspicuously when not being used, other garden equipment should be stored in some type of shelter when not in use. A yard should be free form unnecessary clutter, a place should be free from children’s toys and equipment. All animal litter should be removed daily. Fix the garage door so it opens and closes. House and garage doors should be free from finger marks. Wood surfaces should be kept painted, oiled and stained. Porches, steps, verandas, balconies, patios and other extensions of the home must be uncluttered, clean and repaired. Shades and awnings in good repair with colours unfaded will improve exterior house appearance. Keep garbage cans deodorized and out of sight, or placed inconspicuously. Walks and entrances should be well maintained and free from excess water, ice and snow. Put some crushed stone on walkways and driveways that turn muddy in the rain and fill any potholes. Keep gates, fences, walls and out buildings repaired and painted. Outdoor furniture should be kept clean. Firewood should be stacked neatly. Barbecue grill should be cleaned. Metal accessories (door knobs, door knockers, lamps, etc.) should be cleaned and polished. Attach downspouts to the gutters and paint, if needed. Any loose roof shingles, tiles, etc. should be secured and repaired. Paint the front, back and side entrance doors. Nothing looks worse than a peeling door. The fence is falling, and so is the sale. Get rid of it or …

Documents You’ll See When Selling Your Home

WORKING WITH A REALTOR BROCHURE Buyers and sellers are presented with this brochure at the earliest contact with a real estate agent. Industry regulations have now made it mandatory for a real estate licensee to disclose the capacity in which the agent will be working with you: i.e. as a buyer’s agent, a seller’s agent or as a dual agent, before assisting or representing you in a real estate transaction. The agent will then ask you to sign a statement acknowledging that this disclosure of agency representation has taken place. He or she will then tear off and keep the signed statement and give you the brochure for future reference. Signing the disclosure statement in the Working with a Real Estate Agent brochure does not bind you to any obligation to that real estate agent. It merely confirms that you have discussed your agency representation options with the agent. MLS® LISTING CONTRACT The Multiple Listing Service® Listing Contract outlines the terms of the listing contract, including the length of time for the listing, the price, the commission to be paid, all the parties to the listing, the address and the legal description of the property to be sold, how the seller is to be paid, the preferred possession date, the financial obligations and other information regarding the property. The listing agreement is the seller’s agreement with the listing agency, not the salesperson individually. If the salesperson leaves that company, it is up to the seller and the listing company to decide whether or not the listing will go with the salesperson, or whether it will stay with the original company and be assigned to another salesperson. As with other services, there is GST payable on commission, so when you are calculating your proceeds, take that into consideration. CHANGE ORDER FORM …

Creating Curb Appeal

What’s curb appeal? It’s that certain something about your home that catches the eye of the passer-by and makes them want to take a closer look. If you’re selling your home, curb appeal can quickly draw prospective buyers in for the first time. Without it, buyers may pass up on the chance to see inside and will miss what might have been the perfect home for them. Your REALTOR can give you numerous tips and suggestions to help you make that first impression really count. Here are a few ideas: Keep your lawns neatly trimmed and edged. Trim trees and shrubbery to get rid of overhanging branches that might obscure a potentially good view of your home, or pathway leading to the front door. Turn over the soil in your flowerbeds. If there’s little color in your front garden, make a splash with a display of inexpensive annuals, flower boxes and wooden tubs. Clay and plastic posts can also be filled with flowers and small shrubs and displayed in the yard or by the front entrance to give the feel of a warm welcome. Birdhouses and feeders, dried flower wreaths and hanging baskets on the front porch can give your home countryside curb appeal. Keep your porch, driveway and front yard clutter free. Remove garbage bins as soon as possible after pick-up, and avoid any build-up of junk mail. Repair or replace broken steps or walkways. You might be used to the uneven paving or rickety stairs outside your home, but they could be hazardous to visitors, as well as unsightly. Your home’s roof, chimney and exterior should look sound and well-cared for. Freshly painted woodwork is often well worth the time and money invested in it. A good spruce-up can make a big difference If painting is unnecessary, your …

Chattles & Fixtures

Put It In Writing Before You Sell!!! If you are thinking of selling your home, have you given much thought to what you plan to leave with the home and what you would like to take with you, such as the washer and dryer, the fridge and stove, or even that heirloom chandelier in the dining room? While these may not seem like important concerns right now, your failure to address them in your listing and the contract of purchase and sale could lead to a major misunderstanding with a potential buyer. The last thing you would want is the loss of a sale of your home due to a dispute or misunderstanding over a relatively minor item. A REALTOR will guide you through the listing process and will ask you what you want to include in the sale. It is a good idea, however, to make up a list before meeting with your REALTOR to ensure you do not forget something. Chattels are normally removed When chattels are included in the agreement, they must be listed in the contract of purchase and sale. It is fairly common practice for sellers to include items, which would normally be considered as chattels, such as appliances and window coverings, in the selling price. Fixtures normally stay A REALTOR will explain that fixtures are permanent improvements to a property which normally stay with the property as part of the sale. For example, if you have upgraded your wiring or heating system, these are considered to be permanent fixtures. Keep in mind, however, that the law is not always crystal clear about what constitutes a fixture. There are circumstances where you may plan to remove something that might ordinarily be considered a fixture – like your chandelier. Other items to consider are lawn ornaments, …

20 Tips For Selling Your Home

As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you’ll help me to sell your home faster, at the best possible price. The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help you get everything in order – from repainting the kitchen to providing a thorough cleaning – so you can stay focused on more important things. Make the Most of that First Impression A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. If it’s autumn, rake the leaves. If it’s winter, shovel the walkways. The fewer obstacles between prospects and the true appeal of your home, the better. Invest a Few Hours for Future Dividends Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. If you’re worried about time, hire professional cleaners or painters to get your house ready. Remember, prospects would rather see how great your home really looks than hear how great it could look “with a little work.” Check Faucets and Bulbs Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home. Don’t Shut Out a Sale If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away …

First Time Homebuyer Program Information

First Time Home Buyers’ Program Introduced in 1994, the First Time Home Buyers’ Program is designed to help British Columbians purchase their first home. Under the program, eligible purchasers can claim an exemption from Property Transfer Tax if the fair market value of the home is less than the threshold amount. Thresholds For registrations on, or after, February 20 2008, the fair market value threshold for eligible residential property is $425,000. A proportional exemption is provided for eligible residences with a fair market value of up to $25,000 above the threshold (i.e. up to $450,000). Other Criteria To qualify for the First Time Home Buyers’ exemption you must meet all of the initial eligibility criteria. To retain the exemption, there are also requirements which must be met in the year following the transfer. For a general overview of the eligibility criteria, please see the brochure, Property Transfer Tax and the First Time Home Buyers’ Program. For complete information on all of the eligibility criteria, please see: Bulletin PTT 004, First Time Home Buyers’ Program Instructions for Completion of the First Time Home Buyers’ Tax Return First Time Home Buyers’ Program – Follow Up To claim the exemption you must file a First Time Home Buyers’ Property Transfer Tax Return (FIN 269) and the appropriate Land Title forms at the Land Title Office when you apply to register your property. Refunds If a purchaser did not apply for the exemption when the transfer was originally registered at the Land Title office, but met all the FTHB eligibility criteria at that time, the purchaser may apply for a refund within the first 18 months from the date of the original registration. Please see How to File for more information.

First Time Home Buyers’ Program – Year End Financing Follow-up

When your application for exemption from property transfer tax under the First Time Homebuyers’ program is received, a letter is sent to you confirming receipt of your application. This confirmation letter outlines requirements that must be met during the first year after you register the transfer at the Land Title Office. If your property purchase was registered on, or after, February 20, 2008, you are no longer required to meet any financing requirements to qualify for the First Time Home Buyers’ Exemption, or provide financing information in your year-end follow-up letter. If your property purchase was registered before February 20, 2008, you must meet the financing requirements that were in place when you purchased the property. However, effective February 20, 2008, you are free to pay down any amount owing on your mortgage. If your property purchase was registered before February 20, 2008, and you paid down your mortgage before February 20, 2008, the following requirements apply to you. For all areas of British Columbia, the allowable mortgage paydown limit is the greater of $13,000 or an amount that reduces your mortgage to 70 per cent of your property’s fair market value. Regular and lump sum payments made against the principal of your mortgage are used to determine how much your mortgage had been reduced. If your financing allowed for amounts to be borrowed, in addition to the amount borrowed to finance the purchase of your principal residence, such as re-advanceable mortgages or lines of credit, payments you made against the various principal amounts are pro-rated between the various amounts borrowed. If you paid down more than the allowable limit, you may be allowed to keep a portion of the exemption based on the date you went over the limit. It is important that you have your lender/mortgage holder provide this …

June, 2011: Real Estate Market Update

RATIO OF PROPERTY SALES TO INVENTORY REMAINS STABLE IN THE FRASER VALLEY (Surrey, BC) – For three consecutive months, the percentage of properties sold in the Fraser Valley compared to those that were available for purchase has remained at 16 per cent, reflecting a balanced market starting to favour buyers. In June, the Fraser Valley Real Estate Board processed 1,588 property sales on its Multiple Listing Service (MLS®), while at the same time had 9,758 active listings available. Sukh Sidhu, president of the Board, explains, “When supply and demand remain as consistent as they have since April, it indicates a stable market. “However, it is important for both buyers and sellers to be aware that Fraser Valley’s market is highly localized. In general, 16 out of every 100 properties sold in June, but that’s referring to every property type in all six of our communities. Be sure to ask your REALTOR® for the percentage of properties selling specific to your home in your area.” The Board received 2,762 new listings in June, a decrease of 10 per cent compared to May and a decrease of 12 per cent compared to the 3,153 new listings received in June 2010.   Sidhu adds, “Although the volume of new homes coming on stream saw a seasonal dip in June, selection remains very good in particular for Fraser Valley apartments. With interest rates remaining stable, there are some excellent opportunities for first-time buyers this summer.” In June, the benchmark price for Fraser Valley detached homes was $528,060, an increase of 1.9 per cent compared to $518,355 in June 2010 and a decrease of 0.3 per cent compared to May. The benchmark price of Fraser Valley townhomes in June was $327,457, a decrease of 0.2 per cent compared to $328,080 in June 2010 and up …

May, 2011: Real Estate Market Update

Fraser Valley housing market shows local variation (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,608 property sales on its Multiple Listing Service (MLS®) in May, an increase of 9 per cent compared to 1,477 sold during May of last year, and an increase of 6 per cent compared to April’s 1,516 sales. Sukh Sidhu, president of the Board, reports, “Overall, the Fraser Valley market is in a balanced position, however there are significant differences amongst individual communities and property types stressing the importance of getting local expertise if you’re thinking of buying or selling. “For example, sales of single family detached homes in South Surrey/White Rock, Cloverdale and North Delta remain brisk with those markets favouring sellers, however in Abbotsford and Mission high inventory and downward pressure on prices is good news for buyers. In Langley, Surrey Central and North Surrey, conditions are balanced for sales of detached homes.” Variation is also evident in home prices. In May, the benchmark price for Fraser Valley detached homes was $529,810, an increase of 2.8 per cent year-over-year. The benchmark price is the predicted sale price of a typical property in the Fraser Valley. Contrast that to May’s average price of $630,870 for detached homes, an 11.6 per cent increase compared to May 2010 – influenced by the sale of higher-end homes or homes with larger lots. Sukh Sidhu explains, “The average price and its percentage change often do not provide an accurate picture of the real market, which is why we talk about prices of “typical” homes that most people are buying or selling.” In May, the benchmark price of Fraser Valley townhomes was $324,730, a decrease of 1.1 per cent compared to $328,295 in May 2010. The benchmark price of apartments was $250,988 in May, a decrease of …

April, 2011: Real Estate Market Update

APRIL HOME SALES RETURN TO BALANCE IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,516 property sales on its Multiple Listing Service (MLS®) in April, a decrease of 15 per cent compared to 1,793 sold during April of last year, and a decrease of 17 per cent compared to March’s 1,818 sales. Sukh Sidhu, president of the Board, explains, “April’s sales are pretty typical for that month over the last two decades with the 20-year average being 1,580, but softer than what we saw earlier this year. “The Fraser Valley market was busier than normal in February and March due in part to the tighter credit conditions that kicked in on March 18, plus you add into the mix a focus on the federal election and you get an April that trends back to normal conditions.” However, Sidhu says certain individual markets within Fraser Valley have remained active. “For the third month in a row, sales of single detached homes in White Rock/South Surrey have accounted for almost a quarter of all detached sales in the region compared to the 15 per cent share that area typically garners.” “Benchmark prices of detached homes in that area have increased by 11 per cent in the last three months compared to 3.9 per cent across the Fraser Valley as a whole, emphasizing the need for local expertise no matter where you’re thinking of buying or selling.” April finished with 5 per cent more active listings on the MLS® than it had in March – 9,697 compared to 9,228 – however, 9 per cent fewer than the 10,635 listings that were active during April of 2010. The Board received 2,918 new listings in April, a decrease of 14 per cent compared to March and a decrease of 22 …

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March, 2011: Real Estate Market Update

March home sale activity reaches 5-year high in Fraser Valley (Surrey, BC) – Last month, Fraser Valley REALTORS® experienced their busiest March in terms of sales on the Multiple Listing Service®, since 2006. The Fraser Valley Real Estate Board processed 1,818 property sales in March, an increase of 16 per cent compared to 1,565 sold during March of last year, and an increase of 42 per cent compared to February’s 1,279 sales. In March of 2006, there were 2,072 sales. Sukh Sidhu, Board president, explains, “We are seeing strong demand in Fraser Valley but not necessarily for every product type in every community, underlining the importance for consumers to ask their REALTOR® for a detailed, local market analysis. “For example, sales of single family detached homes in White Rock/South Surrey increased by over 150 per cent in March compared to last year, however in Abbotsford they were down by almost 7 per cent. The property type that saw the largest increase in sales in Abbotsford during the month of March was condominiums.” Sidhu adds that in addition to sales volumes, the number of new properties being listed for sale also increased by 11 per cent, going from 3,038 new listings in February to 3,376 in March. “Giving buyers more choice during one of the most popular times of the year to house hunt.” March finished with 6 per cent more active listings on the MLS® than it had in February, 9,228 compared to 8,680, however still 6 per cent fewer compared to the 9,828 listings that were active during March of 2010. Regarding prices, in March, the benchmark price for Fraser Valley detached homes was $519,628, an increase of 0.9 per cent from the March 2010 price of $514,787. The benchmark price of Fraser Valley townhouses in March remained on …

February, 2011: Real Estate Market Update

EARLY SPRING SURGE IN SALES & NEW LISTINGS IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,279 sales on the Multiple Listing Service® (MLS®) in February, an increase of six per cent compared with 1,204 sold during February 2010, and 53 per cent more than the 834 listings that sold last month. Sukh Sidhu, Board president, confirms the market is more active earlier than expected. “Fraser Valley REALTORS® are busy. We sold 659 detached homes last month compared to 398 in January. We also saw the greatest amount of new inventory come on stream since last summer. “We think one of the drivers is the change in mortgage rules that is coming up on March 18. Some clients have asked that their sale complete before that date. Plus, our REALTORS® are telling us that almost fifty per cent of their buyers paid less than 25 per cent as a down payment for their home purchases during the first half of February. A 35-year amortization could be more attractive to those buyers.” In February, the benchmark price for Fraser Valley detached homes was $514,161, an increase of 1.2 per cent from the February 2010 price of $508,136. The benchmark price of Fraser Valley townhouses in February was $316,578, a 2.5 per cent decrease compared to $324,708 in February 2010. The benchmark price of apartments remained on par year-over-year going from $245,879 in February 2010 to $245,519 in February 2011. The MLS® received 3,038 new listings in February, an increase of 15.4 per cent compared to the volume received in January and 6.2 per cent more than the 2,879 new listings received during February last year. Last month finished with 8,680 active listings, an increase of 2.3 per cent compared to the 8,485 active listings available during …

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January, 2011: Real Estate Market Update

INCREASE IN LISTINGS ADVANTAGEOUS FOR FRASER VALLEY BUYERS (Surrey, BC) – The Fraser Valley Real Estate Board reports an increase in listing activity and steady sales for the first month of 2011. Deanna Horn, president of the Board says, “In addition to an influx of new inventory in January, our REALTORS® had more inquiries and increased traffic at open houses boding well for a solid spring market in the Fraser Valley.” There were 834 sales processed on the Board’s Multiple Listing Service® (MLS®) in January, a decrease of 15 per cent compared to the 981 sales processed in January 2010 and a 7 per cent decrease compared to the 895 sales in December. Although the Board received 11 per cent fewer new listings in January than it did during the same month last year, it saw the typical post-holiday surge in new properties coming on stream. The Board received 2,632 new listings last month, an increase of 138 per cent compared to the 1,104 listings received in December taking the number of active listings to 7,724 at the end of January, 4 per cent more than were available during January 2010. Horn adds, “The market typically picks up at this time of year as also evidenced by the decrease in the average number of days to sell for single family homes and townhomes in January. “In terms of prices, overall they’re holding steady, however we are seeing variability depending on the community and property type.” The benchmark price for Fraser Valley detached homes in January was $505,618, down 0.1 per cent compared to December and 0.9 per cent higher compared to $500,931 in January 2010. The benchmark price of Fraser Valley townhouses in January was $317,414, a 1.4 per cent decrease compared to December and a 0.1 per cent decrease …