U.S. Housing Market up

According to the National Association of Realtors report released last week sales activity is at its highest since February 2007. Existing home sales in the U.S. showed another big gain in October as first-time buyers rushed to take advantage of a national tax credit. Existing home sales, including single-family, townhouses and condos, surged 10.1% to a seasonally adjusted annual rate of 6.1 million units in Oct. This was reported in the London Free Press

Solvang is the place for Wine

While we were in California for the NAR Convention, Jeannette and myself took a few days to see the wine area around Solvang, north of Los Angeles and Santa Barbara. Although we didn't see any movie stars the town is like being in Denmark with the windmills and post and beam construction of the buildings. There is a lot of history in the area and great drive through the canyons, that Jeannette didn't like! Should of had the Mini that day but we had rented a Vibe...it was still fun.

California is the place to be for NAR

Jeannette and I went to San Diego for the National Association of Realtors Convention in Nov. with my Real Estate Board, (LSTAR). Flew from London to Calgary then on to San Diego California, on the 12th of November and made it back on the
21st. Great Speakers and entertainment at the convention and well worth the time flying there! San Diego is a great place with the Pacific Fleet, perfect weather and the San Diego zoo, to name a few attractions. We were very busy for the 5 days at the convention.

London St. Thomas Real Estate Board gives back to the Community

On Monday, November 9, at its Strathroy president’s breakfast, LSTAR president Joe Hough presented a $5,000 cheque to the Women’s Rural Resource Centre (WRRC) on behalf of the REALTORS Care Foundation. Ellen Frood, Senior Development Officer of the WRRC, was on hand to accept the cheque and offer her thanks for the Foundation’s support of the centre. The money will help fund their residential shelter program.

The Women’s Rural Resource Centre offers residential and non-residential support, and also provides counseling services in outreach sites for abused women and their children.

“LSTAR was very proud to support the WRRC in its application for a REALTORS Care Foundation grant and I am so pleased to see the money helping such a worthwhile cause in our community,” said LSTAR president Joe Hough. “Giving back helps the WRRC provide an essential service and it helps us to achieve our Quality of Life principles.”

Housing Starts Advance in Canada

Tavia Grant from the Globe and Mail, reported that housing starts advanced 5.4 per cent last month as builders broke ground on more condos and apartments, more evidence that the Canadian residential construction is on the mend. Starts rose to 157,300 units in October, in line with economists' expectations, Canada Mortgage and Housing Corp. reported today. Record low interest rates will continue to spur home buying in the coming months and underpin residential construction activity, said Stewart Hall, economist at HSBC Securities (Canada) Inc. The hub of activity though is really in the existing home sales market where levels of activity in many resale segments have exceeded the peaks recorded before the start of the recession. CMHC predicted last week that housing activity and prices will pick up next year as demand grows and interest rates stay low.