New Brunswick Real Estate

It's Sold You're Moving: THE PITFALL OF MULTIPLE REPRESENTATION aka Dual Ag...

2011-06-01T04:31:00.000-07:00

It's Sold You're Moving: THE PITFALL OF MULTIPLE REPRESENTATION aka Dual Ag...: "To many, the term - dual agency means that a REALTOR ® represents both the buyer and the seller in the sale of the REALTOR's ® listing. T..."

May 2010 MLS® Sales Reported in New Brunswick

2011-05-31T19:36:00.000-07:00

For the month of May 2011 - Total real property unit sales reported on MLS® tied in Moncton and Fredericton while Saint John sales remained lower.

For a closer look at the Moncton housing market see http://www.blogmoncton.com/

Fredericton

May-2011 - Units Sold: 315 - Volume Sold: $ 54,941,705
May-2010 - Units Sold: 279 - Volume Sold: $ 47,452,649

May-2009 - Units Sold: 326 - Volume Sold: $ 56,252,025

May-2008 - Units Sold: 351 - Volume Sold: $ 55,012,311

Moncton

May-2011 - Units Sold: 315 - Volume Sold: $ 50,979,909

May-2010 - Units Sold: 249 - Volume Sold: $ 35,292,013

May-2009 - Units Sold: 281 - Volume Sold: $ 38,624,440

May-2008 - Units Sold: 362 - Volume Sold: $ 50,495,357

Saint John

May-2011 - Units Sold: 203 - Volume Sold: $ 33,069,271

May-2010 - Units Sold: 207 - Volume Sold: $ 33,435,947

May-2009 - Units Sold: 249 - Volume Sold: $ 44,613,494

May-2008 - Units Sold: 272 - Volume Sold: $ 41,049,722

Northern New Brunswick
May-2011 - Units Sold: 52 - Volume Sold: $ 4,626,694
May-2010 - Units Sold: 43 - Volume Sold: $ 3,658,050

May-2009 - Units Sold: 49 - Volume Sold: $ 4,471,451

May-2008 - Units Sold: 57 - Volume Sold: $ 4,040,150

Valley
May-2011 - Units Sold: 25 - Volume Sold: $ 2,343,400
May-2010 - Units Sold: 19 - Volume Sold: $ 2,083,450

May-2009 - Units Sold: 24 - Volume Sold: $ 2,667,200

May-2008 - Units Sold: 23 - Volume Sold: $ 2,577,000

November 2010 MLS® Sales Reported in New Brunswick, Canada

2010-12-23T12:26:00.000-08:00

For the month of November, 2010 - Total real property unit sales reported on MLS® slipped in Fredericton and Saint John, however not in Moncton or Northern New Brunswick. The Moncton area was Province's most active real estate market in November 2010.

Fredericton
Nov-2010 - Current Sold: 149 Volume Sold: $ 22,732,110
Nov-2009 - Current Sold: 164 Volume Sold: $ 22,188,749
Nov-2008 - Current Sold: 123 Volume Sold: $ 15,216,500
Nov-2007 - Current Sold: 167 Volume Sold: $ 20,003,100
Nov-2006 - Current Sold: 157 Volume Sold: $ 21,232,700
Nov-2005 - Current Sold: 161 Volume Sold: $ 19,259,800
Nov-2004 - Current Sold: 136 Volume Sold: $ 14,685,200

Moncton
Nov-2010 - Current Sold: 231 Volume Sold: $ 32,817,209
Nov-2009 - Current Sold: 208 Volume Sold: $ 28,098,547
Nov-2008 - Current Sold: 158 Volume Sold: $ 22,065,227
Nov-2007 - Current Sold: 243 Volume Sold: $ 31,402,500
Nov-2006 - Current Sold: 184 Volume Sold: $ 24,145,900
Nov-2005 - Current Sold: 190 Volume Sold: $ 22,752,800
Nov-2004 - Current Sold: 87 Volume Sold: $ 9,413,500

Saint John
Nov-2010 - Current Sold: 133 Volume Sold: $ 22,286,640
Nov-2009 - Current Sold: 187 Volume Sold: $ 34,036,572
Nov-2008 - Current Sold: 149 Volume Sold: $ 21,601,700
Nov-2007 - Current Sold: 197 Volume Sold: $ 28,152,700
Nov-2006 - Current Sold: 189 Volume Sold: $ 26,242,200
Nov-2005 - Current Sold: 239 Volume Sold: $ 28,785,900
Nov-2004 - Current Sold: 196 Volume Sold: $ 23,791,700

Northern New Brunswick Real Estate Board
Nov-2010 - Current Sold: 71 Volume Sold: $ 6,242,500
Nov-2009 - Current Sold: 42 Volume Sold: $ 3,649,250
Nov-2008 - Current Sold: 36 Volume Sold: $ 3,526,400
Nov-2007 - Current Sold: 50 Volume Sold: $ 4,311,900
Nov-2006 - Current Sold: 53 Volume Sold: $ 4,276,100
Nov-2005 - Current Sold: 51 Volume Sold: $ 3,489,300
Nov-2004 - Current Sold: 49 Volume Sold: $ 3,620,800

October 2010 MLS® Sales Reported in New Brunswick, Canada

2010-11-02T05:31:00.000-07:00

Hot off my computer for the month of October, 2010 - Total real property sales and volume reported on MLS® slipped in all three of New Brunswick's major centres. In October, the Moncton area was the most active real estate market with over 25% more sales reported than either Saint John or Fredericton.
Moncton
Oct-2010 - # Sold: 217 Volume Sold: $ 29,969,317
Oct-2009 - # Sold: 231 Volume Sold: $ 31,494,937
Oct-2008 - # Sold: 225 Volume Sold: $ 29,278,327
Oct-2007 - # Sold: 265 Volume Sold: $ 35,064,200

Saint John
Oct-2010 - # Sold: 170 Volume Sold: $ 26,726,453
Oct-2009 - # Sold: 224 Volume Sold: $ 34,133,322
Oct-2008 - # Sold: 214 Volume Sold: $ 31,099,196
Oct-2007 - # Sold: 229 Volume Sold: $ 31,072,700

Fredericton

Oct-2010 - # Sold: 168 Volume Sold: $ 24,045,500
Oct-2009 - # Sold: 186 Volume Sold: $ 23,834,543
Oct-2008 - # Sold: 157 Volume Sold: $ 19,616,709
Oct-2007 - # Sold: 222 Volume Sold: $ 27,025,000

August 2010 MLS® Sales

2010-08-31T13:44:00.000-07:00

Hot off the computer on August 31st - Total real property sales and volume reported in Fredericton, Moncton and Valley are not far off previous years but Saint John and and Northern New Brunswick have stumbled. The Moncton area remains the most active real estate market.

Fredericton
Aug-2010 Sales: 215 - Volume Sold: $ 31,358,938
Aug-2009 Sales: 234 - Volume Sold: $ 32,993,806
Aug-2008 Sales: 260 - Volume Sold: $ 36,301,562

Moncton
Aug-2010 Sales: 275 - Volume Sold: $ 39,835,571
Aug-2009 Sales: 254 - Volume Sold: $ 41,606,384
Aug-2008 Sales: 286 - Volume Sold: $ 40,556,633

Saint John
Aug-2010 Sales: 181 - Volume Sold: $ 30,473,985
Aug-2009 Sales: 224 - Volume Sold: $ 35,146,361
Aug-2008 Sales: 284 - Volume Sold: $ 43,156,931

Northern New Brunswick
Aug-2010 Sales: 64 - Volume Sold: $ 4,751,100
Aug-2009 Sales: 52 - Volume Sold: $ 4,651,900
Aug-2008 Sales: 100 - Volume Sold: $ 9,015,322

Valley Board
Aug-2010 Sales: 18 - Volume Sold: $ 1,443,700
Aug-2009 Sales: 27 - Volume Sold: $ 1,651,600
Aug-2008 Sales: 24 - Volume Sold: $ 1,773,900

NB Real Estate Market Update

2009-12-30T17:26:00.000-08:00

As the double naught decade closes I offer this snapshot of yearly real estate unit sales reported on MLS® in the three major New Brunswick markets.

The Moncton area dominated the decade while Saint John and Fredericton jockeyed for second place.

NB Real Estate Market Update

2009-12-01T06:58:00.000-08:00

Total unit sales and dollar volumes reported in New Brunswick's three largest real estate markets made significant year over year gains in November.
Fredericton area unit sales reported in November came within a whisker of their all time record for November unit sales set in 2007.
Moncton area unit sales reported in November were the second best on record for November.
In Saint John the November record for unit sales reported was set in 2005 (239).

Will this trend continue through the final month of 2009?

In 31 days I'll post my 2009 report.

NB Real Estate Market Update

2009-10-28T04:57:00.000-07:00

The synopsis for September is the same as my May report
"The number of sales recorded continues to be lower than the same period last year. "

The report from each real estate board puts their own spin on the September numbers:

The New Brunswick Real Estate Association headlines with "Average prices climbs to new September record" All these reports offer the observation that "Consumer confidence continues to improve". But the fact is sales activity has not yet recovered in the Province.

The strongest unit sales year-to-date have been reported in the Moncton area while the Fredericton area trails the three major Provincial centers.

Camp or Cottage for $10,900

2009-06-15T16:53:00.000-07:00

This camp or cottage on the New Ireland Road in Albert County is listed on MLS® for only $10,900. Located on a paved year round road it's a great four season getaway. At this price it does need some work. There are two structures on the property. Find more pictures at www.rural4sale.com

Private beach on the Northumberland Strait - Grande-Digue - Kent County - New Brunswick - Canada

2009-06-01T09:00:00.001-07:00

View of the sea from this four season chalet in Grande Digue - NB

Northumberland Strait or Bay of Fundy?

2009-06-01T06:16:00.000-07:00

In a corner of New Brunswick there are two totally different seaside experiences within a mere one hour drive.

The upper Bay of Fundy boast the most dramatic vertical tidal swings in the world, fifty feet or more, as the tide funnells between the coast of New Brunswick and the coast of Nova Scotia. The waters of the Bay of Fundy are deep and cold. It's a rugged coast with stunning views and bathing in the water is not for the timid.

The waters of the Northumberland Strait are shallow between the coast of New Brunswick and the Coast of Prince Edward Island. The tidal range of two to six feet allow the sun to warm the shallow sea water which in summer is the warmest on the East coast, North of the Carolinas. The beaches are broad and sandy though in some areas are irregular with fingers of soft sandstone jutting towards the water.

I am representing the owners of a seaside chalet in Grande-Digue, Kent County, New Brunswick which is listed for sale at $319,900 on the Multiple Listing Service®. This impressive custom built residence is designed for year round living and offers many features not found in ordinary houses.Find the full details at www.GrandeDigue.info.

Here is a video of the private beach.

New Brunswick Real Estate Market Update

2009-05-06T16:28:00.000-07:00

The number of sales recorded continues to be lower than the same period last year.

Real Estate Board of Fredericton Area

Apr-2009 - Units Sold: 258 - Volume Sold: $ 39,795,725.00
Apr-2008 - Units Sold: 280 - Volume Sold: $ 43,539,584.16

Greater Moncton Real Estate Board

Apr-2009 - Units Sold: 217 - Volume Sold: $ 29,742,648.00
Apr-2008 - Units Sold: 293 - Volume Sold: $ 39,564,020.00

Saint John Real Estate Board

Apr-2009 - Units Sold: 196 - Volume Sold: $ 30,572,151.28
Apr-2008 - Units Sold: 224 - Volume Sold: $ 33,468,254.87

Northern New Brunswick Real Estate Board

Apr-2009 - Units Sold: 46 - Volume Sold: $ 4,145,215.00
Apr-2008 - Units Sold: 41 - Volume Sold: $ 2,960,430.00

Valley Real Estate Board

Apr-2009 - Units Sold: 12 - Volume Sold: $ 1,205,500.00
Apr-2008 - Units Sold: 14 - Volume Sold: $ 1,004,400.00

March 2009 - Declining Unit Sales Again? YES and NO!

2009-03-31T14:56:00.001-07:00

Surprise!
The double digit percentage year over year decline in unit sales stopped in March.
Comparing MLS® unit sales recorded this March with last:

Fredericton posted an 8% gain
Moncton posted a 3.7 % decline
Saint John posted a 7% decline

First quarter 2009 unit sales in New Brunswick are still down in the 15% range from 2008 due much lower unit sales in January and February. And first quarter 2009 unit sales are off 29% from the all time record high recorded in the first quarter of 2007.

Will March 2009 go down as a turning point in the New Brunswick real estate market? Stop back later in the year for the answer.

New Brunswick Housing Starts - January 2009

2009-02-09T12:00:00.000-08:00

Information just released by the Canada Mortgage and Housing Corporation indicate that total housing starts declined in New Brunswick's urban centres in January.

The Saint John CMA (- 24%) recorded the most total starts for January.
The Moncton CMA (- 36%) fared slightly worse than New Brunswick as a whole ( - 33%) but better than Canada as a whole (- 40%).
Fredericton (- 38%) recorded the most single family detached starts of all the urban centres.

Was it our colder than normal January or the global economic uncertainty effecting our housing starts?

As the weather and our construction season heats up, will our housing starts rebound?

Time will tell.

I'm an independent real estate agent, licensed in New Brunswick, residing in Moncton. Contact me for answers to any of your real estate questions.

Open Houses - Now online with interactive mapping.

2009-02-08T07:38:00.000-08:00

Search for real estate OPEN HOUSES in most New Brunswick areas including Bathurst, Fredericton, Dieppe, Miramichi, Moncton, Quispamsis, Riverview, Rothesay, Shediac, Sussex and others.

Interactive mapping makes it so easy to locate open houses that are in your preferred price range and preferred areas. View pictures and get driving directions instantly.

To learn more about real estate OPEN HOUSES .... >CLICK HERE FOR MORE<

Fewer MLS® Sales in November

2008-12-03T06:21:00.000-08:00

The number of MLS® sales reported in New Brunswick declined 24% last month in comparison November of 2007.The area hardest hit was Moncton (-35%), followed by Saint John (-24%) and Fredericton (-18%).

Even though the Greater Moncton area experienced a 35% decline in the number of MLS® sales last month, this pales in comparison to higher priced areas such as Greater Vancouver where MLS® sales of existing homes fell 70% from November 2007.

Fewer buyers and more active listings signal a buyer's market. Aggressive marketing techniques will be needed to attract buyers in this market.

Buyers who have the undivided loyalty of their own agent (buyer's agent) will have a distinct advantage in this market.

2007-04-27T18:01:00.000-07:00

There is a supposedly Chinese proverb that goes:

"Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."

Well, I'd like to modify that adage to preface my take on the New Brunswick government's recent decision to not follow through with a rebate of the 8% tax which every New Brunswick household pays on their home heating bill.

"Give a New Brunswicker a rebate of the 8% tax paid on home heating and you've reduced his/her bill by 8% for one year. Teach a New Brunswicker that if he/she spends some money to increase the energy efficiency of his/her home, he/she will reduce his/her home heating bill by at the very least 10% a year for at least the next twenty years and reinforce this lesson by rebating 20% of the amount he/she spends on improvements to home energy efficiency."

See details at http://www.efficiencynb.ca

(For the one out of three New Brunswick households who do not own their home, their landlord can claim the rebate. And for those New Brunswickers whose total family income is less $25,000, the household may apply for a $100 rebate. See details at The New Brunswick Home Energy Assistance Program )

There is little New Brunswickers can do about the cost of energy to heat their homes.
There are many things New Brunswickers can do to decrease heat loss in their homes.
The best way to reduce the cost of home heating energy is to reduce the amount necessary to heat your home.
Now really, how important was the 8% rebate you supposedly "lost"?
Each heating season, you're losing more than 8% from your energy inefficient home!
Now the New Brunswick government is giving you an extra financial incentive to reduce your home heating consumption.
Isn't it obvious rebating the 8% tax does nothing to address wasteful energy consumption?

Addressing waste is what I expect from good government.

New Brunswick Real Estate Market Report

2007-04-04T16:32:00.000-07:00

So far this year, residential only:

unit sales are up 30% from 2006 to 956
number of new listings is unchanged
average sale price is up 9% from the same period last year

You may want to say "No" to Dual Agency

2007-03-08T13:48:00.000-08:00

Before you sign an agreement to Dual Agency you should learn more on the subject.
Be an informed consumer. Find out more at:

NoDualAgency

www.LarryEstabrooks.com/doubleagent/

Personally, I will not be a Double Agent.
Here is a disclosure form I use.

Disclosure of Role - Agency

I'm a REALTOR®, a member of the Canadian Real Estate Association and I subscribe to a Code of Ethics and Standards of Business Practice. One requirement of the Code is that REALTORS® must disclose in writing whom they are representing when providing Agency services:

Article 2: Disclosure of Role - Agency, A REALTOR® shall fully disclose in writing to, and is advised to seek written acknowledgement from, his or her Clients and those Customers who are not represented by other Registrants regarding the role and nature of the service the REALTOR® will be providing. This disclosure shall be made at the earliest possible opportunity and in any event prior to the REALTOR® providing professional services which go beyond providing information as a result of incidental contact by a consumer.

In New Brunswick, "Agent" means a person who trades in real estate and "Salesman" means a person employed, appointed or authorized by an Agent to trade in real estate. Real Estate Agents, their Managers and their Salespersons must be licensed. When using the services of an Agent in buying or selling real estate, it is important that you understand who the Agent (including all the Agent’s authorized representatives and licensees) is representing. Is the Agent representing the seller, the buyer, or both? Are you the Agent’s client? Are you a customer?

The difference between merely receiving information from an Agent and being represented by an Agent is the difference between a customer and a client.

A customer (third party) is a person who has not engaged or employed an Agent in an agency capacity. A client (principal) is a person who has engaged or employed an Agent to act as that person's agent. The Agent and every employee of the Agent owes the client the fiduciary duties of undivided loyalty, full disclosure, lawful obedience, confidentiality, accounting and reasonable care.

SINGLE AGENCY (undivided loyalty)

A buyer’s agent represents the buyer, preferably pursuant to a Buyer Agency Agreement. All fiduciary duties of an Agent apply.
A seller’s agent represents the seller, either as a listing agent under a listing agreement with the seller or by cooperating as a sub-agent. All fiduciary duties of an Agent apply.

Acknowledgement - This form does not create an agency relationship. Its purpose is to ensure that my clients and customers understand the role and nature of the service I will be providing and to acknowledge that disclosure of my role has occurred.

I/We, __________________________________________ have read and understand this form and acknowledge that Larry Estabrooks, Agent & REALTOR®, disclosed he is representing:

DUAL AGENCY (conflict of interest)

Dual agency occurs when a real estate Agency is representing both seller and buyer in the same transaction. Since the Agency promised confidentiality, loyalty, and full disclosure to both parties, it becomes necessary to limit these duties in this situation, if both parties provide informed consent in writing.If you find yourself about to become involved in a dual agency relationship, you have the right to say "No".

Energy Efficient Homes in New Brunswick

2007-03-05T12:17:00.000-08:00

There is a supposedly Chinese proverb that goes:

"Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."

See details at
http://www.efficiencynb.ca/

There is little New Brunswickers can do about the cost of energy to heat their homes.

There are many things New Brunswickers can do to decrease heat loss in their homes.

The best way to reduce the cost of home heating energy is to reduce the amount necessary to heat your home.

Now really, how important was the 8% rebate you supposedly "lost"?

Each heating season, you're losing more than 8% from your energy inefficient home!

Now the New Brunswick government is giving you an extra financial incentive to reduce your home heating consumption.

Isn't it obvious rebating the 8% tax does nothing to address wasteful energy consumption?

Addressing waste is what I expect from good government.