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Here is a copy of  the TOP 10 from Pat Bell

Hi All

What an exciting week for Mackenzie and Prince George this week with the Olympic Torch coming through our towns. Friday night saw the biggest crowd I have ever seen in Prince George. Estimates ranged from 5,000 to 15,000 and the real number was in between those places I’m sure. On to Mackenzie for Saturday morning at 6:30 a.m... Despite the early time 800 people turned out to cheer the 5 Torch Runners and celebrate the Olympic flame.

With January coming to an end the Throne Speech is just around the corner. That means another busy travel week for me with Cabinet and Caucus meetings thrown in for good measure.

The economic indicators around us appear to be sending a message that we are in recovery. As challenging as it’s been for the past 16 months BC is well positioned to come out of the recession and this week’s Top 10 focuses on these economic indicators.

Have a great week!

Pat Bell – MLS Prince George North

http://www.patbellmla.bc.ca/

TOP 10

1.    Canfor Mackenzie has been advertising for employee’s to fill its second shift. What better indicator can you get than a “Help Wanted” ad!

2.    In December 2009, B.C.'s average weekly wage was over $815, well above the national average. The average weekly wage has risen by over $166 - or nearly 26 per cent - since 2001, when it was $648.

3.    According to Statistics Canada, the value of residential building permits issued in British Columbia during November 2009 was $536 million, the highest monthly total since September 2008.
(Statistics Canada, Building Permits, October 2009)

4.    In its Autumn 2009 Provincial Outlook, the Conference Board of Canada forecasts B.C. to record 4.2 per cent real GDP growth in 2010, the highest rate in the country. In addition, the Conference Board predicts British Columbia’s retail sales, GDP per capita, disposable income per capita and employment rate will be above the national average in 2010.
(Conference Board of Canada, Autumn 2009 Provincial Outlook)

5.    The Canadian Federation of Independent Business reports that the confidence level of British Columbia’s small and medium businesses is the highest in Canada - more than eight points above the national average - and the second most optimistic results recorded in the province since December 2007.
(Canadian Federation of Independent Business, December 2009 Business Barometer Index)

6.    Canada's largest banks - RBC, CIBC, BMO, Scotiabank and TD - along with the country’s largest credit union, the Desjardins Group, all forecast British Columbia’s real GDP to either lead Canada or be one of the top three provinces in percentage growth in 2010.

7.    The British Columbia Real Estate Association reports more than 5,700 homes were sold in B.C. during December - an increase of 132 per cent compared with December 2008, and the highest sales number for the month in 20 years. Overall, more than 85,000 homes changed hands in British Columbia during 2009, a 23 per cent increase over 2008’s sales figures. 
(B.C. Real Estate Association - December 2009 MLS® Sales Report)

8.    In December 2009, China granted Canada approved destination status, allowing tour operators and travel agents in China to advertise and organize tours in Canada and British Columbia. Approved destination status could increase Chinese tourism to B.C. by 25 per cent annually over the next few years.

9.    British Columbia’s population increased by more than 24,000 people during the third quarter of 2009 and was 4,479,934 as of Oct. 1, 2009. During this period, 11,938 immigrants arrived in British Columbia, accounting for 15.2 per cent of all immigrants landing in Canada.

10. All 3 of the global credit rating agencies have reaffirmed BC’s credit rating as “AAA”. This is a huge confidence boost to investors!


Copy courtesy of:
Best regards
Dean Birks


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Read

Real Estate Sales Expected to Go Up by 8% This Year

By 250 News

Friday, January 29, 2010 07:58 AM


Prince  George, B.C.- The British Columbia Real Estate Association (BCREA) released its Housing Forecast Update for the first quarter of 2010 today.


BC Multiple Listing Service® (MLS®) residential sales in the Northern region, which includes Prince George, are expected to increase by 8 % this year, before slowing to a further 3% in growth in 2011.


The forecast also predicts the average price of a home in the Northern Real estate region will increase by 2% this year, to $216,000, and a further 3% in 2011 to $222 thousand.


Higher home prices and rising mortgage interest rates will provide a constraint on home sales next year.



Copy courtesy of:
Best regards
Dean Birks


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Read

Download now or preview on posterous

BCREA Nov.09 Analyst.pdf (140 KB) 


Hey everyone,
I was reading the latest BCREA analyst report on list to sell ratios and explanation on how they impact home prices and thought some of you may enjoy the information. See attached one page pdf doc.


Cheers!


Best regards
Dean Birks


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Read

Evidence of Forestry's Recovery Buoys Bell

By 250 News

Monday, January 25, 2010 11:04 AM


Prince George, B.C.- Minister of Forests and Range ,Pat Bell, says there are signs forestry is on the road to recovery. He says the latest commodity markets show lumber at an averaged price of $274 dollars per thousand board feet,   “That is an 18 month high. I am hearing that some producers have low inventories and have indicated some concerns about being able to fill their orders.” Bell  says  producers  are telling him they shipped more lumber in  the first  week of January  2010 than in  the entire month  of January  2009.


Bell says the November exports of lumber to China continued the upward trend, and he fully expects the annual exports to China will exceed 1.6 billion board feet, up from 729 million board feet in 2009 and from 329 million board feet shipped in 2008.
Still, that hasn’t prevented the sting of job cuts within his  own Ministry. “We have   over 3,600 staff, all together we are looking at   about 45 positions province wide, a good chunk   of those are staff in Victoria. There are small numbers in different regions around the Province” In the Prince George area, two staff have been cut, a further  6 or so in Kamloops have lost their jobs.


“We are confident we can maintain our responsibilities.   It is important to note that the volume that we have cut over the last few years has decreased from   70 million cubic meters to under 50 million cubic meters, it’s the responsible thing to do to look at how we can increase  efficiencies within the ministry.”


Bell is not factoring the U.S. housing market situation in his recovery predictions,  instead, he is looking to the strength of the growth in exports to China “To go last year from 700 million board feet to this year just under 1.7 billion board feet, that incremental billion board foot climb in the Chinese market is going to account  for  an additional 10% of the  total cut, or about   four sawmills operating in the province and that is the incremental portion. I continue to be optimistic about China, I don’t know if we will put on another billion board feet this year, but   if we did, that would have a meaningful impact on prices and viability of our operations.”



Copy of this from Opinion 250 courtesy of:


Dean Birks


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Read

Things are business here in Prince George with buyers (both home buyers and investors) looking for that home or duplex that fits their needs. I have posted here 2 graphs from BCREA. One is for BC Prov MLS® Sales ending 2009 and also the BC Northern average MLS® price.


PS - Interested in MLS List to Sell ratios, Average time on market & Sold reports on one page?


Best regards
Dean Birks


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132

 

Read

Sent from Canadian Business. To get Canadian Business on your own BlackBerry device today, visit http://canadianbusiness.com/mobile 


---------------------------
Canada's central bank releases monetary policy report
By: THE CANADIAN PRESS 

OTTAWA - The Bank of Canada says the economic recovery is becoming more solidly entrenched. 

The bank says Canada's recovery started off a lot slower than anticipated, largely because Canadians were buying foreign products, but is making up ground and likely grew 3.3 per cent in the last three months of 2009. 

This year, it projects the economy will expand 2.9 per cent, followed by a 3.5 per cent pickup in 2011. 
Best regards,
Dean Birks - REALTOR
Royal LePage Prince George 

Sent via BlackBerry

Read

10 Tips for Turning Your Home into an Income Property

If you’re looking for a way to increase your income, you may need to look no further than your own home.  These days, more and more Canadians are turning their homes into income properties.  An income property is a home that is bought or developed in order to generate income, typically by renting it out in part or in its entirety.  Renting can be a financially rewarding experience, either to provide extra income, or to help pay off a mortgage.  So if you’re thinking of going the income property route, here are 10 important steps you should take:

  1. Contact your local or municipal government to first determine if you are legally permitted to turn your home into an income property.  Work with them to ensure the unit adheres to all existing building and fire codes.
  2. Get to know the landlord-tenant relationship regulations in your province. (For BC Click Here) These laws will give you a better understanding of your role and responsibilities as a landlord.
  3. Inform your insurance company about your plans for renting out space in your home and ask them if you require any additional coverage.
  4. Get your home “renter-ready”.  From a simple change such as a fresh coat of paint to a major renovation, try and make your home look and feel as spacious, bright, and comfortable as possible.  Your home should look appealing inside and out in order to attract potential renters.
  5. Price and market your unit competitively. Scan the classifieds and visit rental websites to find out how much similar units are being listed for.
  6. Conduct a screening process for applicants.  Consider running a criminal background check, as well as a credit check, on prospective tenants.(Here is an old blog I post back in June 2008 that may help allot)
  7. Draft a written tenancy agreement. (Here is link to BC forms) It may contain information such as: the date the tenant will move into the rental unit, the rent amount, the date rent is to be paid, what services are included in the rent (such as electricity or parking) and any separate charges, as well as the rules that you require the tenant to follow.
  8. Consult a lawyer to look over the contract.  Although not necessary, a lawyer can ensure there are no legal problems or issues with the contract before you present it to your tenant. (Here is a few lawyer, notary names & other professionals)
  9. Request a minimum deposit of one month’s rent in advance that may be used against any property damage or unpaid bills, depending on the laws in your province.
  10. Have the tenant sign the contract.  Ensure the tenant receives a copy and keep the original for your own records.  Happy renting!
PS - Interested in MLS List to Sell ratios, Average time on market & Sold reports on one page?


Best regards
Dean Birks


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Read


Prince George, B.C.- Expect to see some activity around the University Hospital of Northern B.C. (PGRH) next week as preparations start for the construction of the new Northern Cancer Centre... View entire article (pdf).

Best regards
Dean Birks

Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Your MLS Prince George REALTOR®

Read

Mt. Milligan Mine Construction Could Start This Summer

By 250 News

Thursday, January 14, 2010 09:42 AM
Prince George, B.C. - After three and half years of work, Terrrane Metals is optimistic it will be able to start construction on the Mount Milligan Mine in late July or early August of this year.
Speaking on the Meisner program on CFISFM ( and through live streaming audio on Opinion 250) Terrane Metals VP Corporate Affairs Sustainability, Glen Wonders, says construction of the mine will take a little over two years.
During construction, the project will create hundreds of jobs, peaking at about 700 .
Wonders says while a “camp” will be constructed for the duration of the construction period, that camp will be deactivated. “When the mine is up and running, we expect the workers will live in the communities of Mackenzie, Ft, St. James and Vanderhoof, and enjoy all those communities have to offer.”
The Mt. Milligan Mine is about 155 Km northwest of Prince George. With an expected life of 22 years, Wonders says it will have about 400 employees and an annual payroll of about $40 million dollars and will pump between $70- $85 million dollars into the economy each year.
Posted on Thursday, January 14, 2010 09:42 AM in News by 250 News
PS - FIND out if the Prince George Market Stabilized? Get a FREE, customized report emailed to your inbox.


Best regards
Dean Birks
Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Your MLS Prince George REALTOR®

Read


The Mount Milligan Mine project has cleared another hurdle as the Board of Directors has approved a decision to proceed to construction on the Mt. Milligan Project. The project will provide about 400 direct permanent jobs and significant long-term economic benefits for the region. See full attached article.



PS Has the Prince George Market Stabilized? Get a FREE, customized report emailed to your inbox.


Best regards
Dean Birks REALTOR®


Royal LePage Prince George
Phone: 250-612-1709
Fax: 1-888-870-4132
Read
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