Identifying a former grow op! Grow ops often require extensive cleanup and repair. It is possible that these repairs were never made and the real damage is hidden. Noticeable signs that you may be dealing with a former grow op include:

• Mould in corners where the walls and ceilings meet.
• Signs of roof vents.
• Painted concrete floors in the basement, with circular marks of where pots once were
• Evidence of tampering with the electric meter( damaged or broken seals) or the ground around it.
• Unusual or modified wiring on the exterior of the house.
• Brownish stains around the soffit that bleeds down along the siding.
• Concrete masonry patches, or alteration on the inside of the garage.
• Patterns of screw holes on the walls.
• Alteration of fireplaces.
• Denting on front door ( from police ramming the door).

If the home has been raided by the police, depending on the municipality, the owner of the property may incurr costs to have the damage repaired in order to receive a re-issued occupancy permit for the home. It is always buyer beware, and it would be advisable to have a home inspection, and visit the city hall to make inquiries on the property.

Housing Bubble you say?? What do our experts say?

Since 2001, we've been hearing about our doomed housing market. From a serious downturn to a full blown bubble bust, the naysayers continue to capture our attention and heighten our concerns. Is there any truth to the prophesized collapse? To find out, we asked some experts. " The fundamentals underlying housing demand in Vancouver are positive and will remain so in 2007", reports Gregory Klump, Chief Economist at the Canadian Real Estate Assocication. These fundamentals include a strong economy, high employment and income growth, and low interest rates.
Urban Futures Institute economist Andrew Ramlo expects international immigration will accelerate, along with in-migration from other provinces as baby-boomers start to retire and head west, " I also see job growth remaining positive, given rising investment in public infrastructure such as the RAV line, the Gateway Project and the Olympics," says Ramlo.
What would have to happen for a bubble to occur? Several telltale signs must exist, says Helmut Pastrick, Chief Economist at Credit Union Central of BC. " A necessary condition is a high level of speculation, " says Pastrick, who defines speculation as a market characterized by large numbers of investors buying homes which they hold for short period time periods, typically less than six months. To gauge speculation Pastrick uses Land Registry data. It indicates that in Greater Vancouver, just seven percent of properties are being bought and resold in less than six months. In 1981 this rate was three times higher and in 1990 it was about twice as high.
The most speculative activity is the downtown Vancouver high rise condominium market. There, 20 per cent of properties are bought and resold within six months. For evidence of a bubble analysts typically look for a telltale parabolic ( hockey stick-staped) increase in home prices. " This isn't the case right now," says Klump. " Home price increases in Vancouver have risen significantly in the past few years because of high demand and tight supply," explains Klump. " In the past few months, increases in average price have slowed." Now that sales are returning to more normal levels and new listings are on the rise, Greater Vancouver's housing market is becoming more balanced, concludes Klump. And, while prices are at an all time high, the majority of home buyers can still afford a home for two reasons:

• most first-time buyers ( about 20% of the market) typically pay less than the benchmark price, buying condominiums or townhomes in suburbs; and
• most buyers already own homes and are benefiting from rising prices as a result of increases in home equity position.

Source: REBGV ( Real Estate Board of Greater Vancouver)

I hope it has been a great start to the New Year! Good-bye 2006, the year went by so quickly, and hello 2007! Hope everyone had a great holiday season!

2006 proved to another successful year, due to the continued support and confidence of my services and the the many referrals I've received from my clients! It has been a great experience working with many of you, and I look forward to working with many more of you in the future.

It looks as if the real estate market in 2007 will be more of a balanced market, the frenzied marketplace of the recent past seems to be behind us for now. By all indicators, mortgage rates will remain relatively stable, with a continued strong economy and employment, positive consumer confidence, the 2007 real estate market should remain strong and healthy. Homes and properties may not sell in a few days, but may take many weeks, but housing prices seem to remain stable and we may see some increase in prices this year, but not as high of an increase as in recent years, of course, and areas of the lower mainland may vary.

The best form of business is a recommendation or referral of my services to your friends, neighbours, or family, it is a great compliment and a gesture I truly appreciate.

Wishing all a happy, healthy and prosperous 2007!