Home Sales Set Record for First Half of 2006

Resale housing activity in Canada?s major markets in the first six months of 2006 surpassed all previous records for the first half of any year, according to statistics released by The Canadian Real Estate Association. Sales activity remains on track to set a new annual record in 2006 even though further expected price increases and recent mortgage rate hikes will cause transactions to soften marginally in the second half of the year.

Actual (unadjusted) home sales via the Multiple Listing Service? (MLS?) in Canada?s major markets numbered 186,177 units in the first half of 2006 ? up 3.6 per cent from the previous record for first-half activity set in 2005.

Surging activity in Calgary and Edmonton remains the driving force behind the continuing strength of national residential sales activity. New records for resale housing activity for the first half of the year were set in a number of major markets including Calgary, Edmonton, Regina, Saskatoon, Winnipeg, London, Sudbury, Ottawa, Montreal and Quebec City.

Seasonally adjusted MLS? home sales in the second quarter of 2006 numbered 84,391 units ? down just slightly from the record levels posted over the past year. Actual (unadjusted) sales reached the second highest level on record for the second quarter period, and were less than 0.5 per cent below activity levels reached during the second quarter of last year.

Seasonally adjusted home sales activity eased by less than one per cent from the previous month to 28,185 units in June 2006. Monthly sales activity ebbed in Toronto, Edmonton, Halifax, and a number of other markets, which more than more than offset monthly gains in Calgary, Ottawa, Vancouver, Winnipeg, Montreal, and London.

Actual (unadjusted) MLS ? residential new listings totaled 308,923 units in the first half of 2006 ? a new record for the first six months of the year, and the highest level on record for any six month period. New listings were up by 4.6 per cent from the first half of last year. They were 2.3 per cent higher than the previous record set in the first half of 1990, which is the only other six-month period on record in which new listings topped 300,000 units.

There are no signs that new listings have peaked, as seasonally adjusted quarterly and monthly new listings reached their highest levels in more than 15 years. Driven by increases in Victoria and Montreal, seasonally adjusted new listings in the second quarter reached the highest level since the fourth quarter of 1990. A rebound in Calgary helped to push major market new listings to the highest monthly level since May 1991.

The major market MLS? residential average price at mid-year was up by 11.8 per cent compared to December of last year. It was also up by 12.2 per cent year-over-year in the second quarter, which tied with the second quarter of 2004 for the highest year-over-year price growth of any quarter in the past 15 years. The 6.8 per cent jump in price from the last quarter was also the highest quarterly increase since 1989. Average price in the second quarter of 2006 set new quarterly records in almost every major market in Canada.

The major market MLS? residential average price reached $304,328 in June ? up 11.8 per cent from the same month last year. Average price has posted double-digit year-over-year gains in every month during the first half of 2006, and reached the highest monthly level on record in June in Calgary, Edmonton, London, Montreal and Quebec City. Average price edged down slightly from the record levels reached in May 2006 in a number of other markets.

?With interest rates having peaked, strong employment and rising after-tax incomes will no doubt keep resale housing activity strong over the second half of the year,? said CREA Chief Economist Gregory Klump. ?The housing market is tightest in Alberta, where a sizzling job market is stoking buyer demand and fueling remarkable price increases.?

?The rise in new listings in Montreal and Toronto gives buyers in those centres a wider selection of homes to choose from, and will keep price increases in those markets below those for major markets in British Columbia and Alberta,? Klump noted.

http://www.tomwhitfield.ca

Why are People Buying Seal Beach Real Estate?

Nestled between Long Beach and Huntington Beach in the heart of Orange County, Seal Beach is a highly attractive and livable city. Not surprisingly, Seal Beach real estate is more sought after and valuable than ever as the Seal Beach real estate market continues to prosper. Boasting a humble but proud population of around 25,000, Seal Beach is a safe and clean community which continues to attract discerning buyers who are interested in securing their own piece of Seal Beach real estate.

Due to the beautiful geographical location and superb year round climate, Seal Beach real estate is popular with families and retirees. The small town charm, secure gated communities, clean air and majestic natural scenery make this a jewel in the crown of California and ensures that the Seal Beach real estate market remains buoyant. Many people move here for the weather, some for the beauty of nature and spectacular sunsets but there are many other reasons why people buy Seal Beach real estate.

The beautiful styling and modern architecture of the homes here ensure the ongoing popularity of Seal Beach real estate. With family homes and a sizeable retirement community, the property choices are varied but whatever Seal Beach real estate you buy, you can rest assured that the quality of your home is never compromised. Couple this with some great shopping options, lovely dining establishments and a climate that lends itself to year round relaxation and recreation and you too will begin to understand the value of Seal Beach real estate.

Every community needs amenities and facilities and when you look to buy Seal Beach real estate, you will discover that the town has much to offer. People who invest in Seal Beach real estate have access to some of the finest city parks with baseball, soccer and other sporting facilities, beautifully maintained park grounds and more. Excellent gym facilities and wonderful walks through the community gardens are just two of the ways Seal Beach real estate owners can stay in shape. Outdoor recreation and activities are served well by the climate and people who buy Seal Beach real estate often do so for that very reason.

So when you decide to indulge and secure your very own piece of Seal Beach real estate, remember that you are moving to a stunning, safe, secure and relaxing place and when you buy Seal Beach real estate you are buying more than a house, you are buying a home.

Kyle Menic is a writer whom specializes in Southern California real estate, which includes Seal Beach real estate and Orange County real estate.

The Role of Qualified Intermediary In A 1031 Like Kind Exchange

Exchanging is a creative method for marketing property. Section 1031 of the Internal Revenue Code (IRC) offers a golden opportunity to motivated real estate buyers to defer the capital gains tax liability associated with the sale of a business or investment asset. 1031 exchanges ensure maximum return on investments to people of all financial backgrounds. However, to qualify for 1031 like kind property exchange the transaction has to be done in accordance to the detailed rules, regulations and compliance issues set forth in the tax code.

Also known as a facilitator or exchange accommodator the Qualified Intermediary serves a critical function under the Internal Revenue Code. Choosing an Intermediary to facilitate the 1031 exchange is the first and most important step. The Qualified Intermediary should be a corporation that is in the full-time business of facilitating 1031 exchanges. The Internal Revenue Code requires that the person or entity serving as QI cannot be someone with whom the exchanger has had a business or family relationship prior to the transaction. It has to be an independent organization whose only contact with the exchanger is to serve him as a QI.

A Qualified Intermediary must be used to facilitate the 1031 Exchange Transaction. By definition a 1031 Qualified Intermediary is an independent and professional facilitator who receives the funds from the original sale and holds the funds until they are needed to purchase the new exchange property. The Qualified Intermediary then directly delivers the money to the closing agent who delivers the deed directly to the real estate investor.

The QI is responsible for performing the following activities in a 1031 Property Exchange:

? Acquiring the Relinquished Property from the taxpayer
? Transferring the Relinquished Property to the buyer
? Acquiring the Replacement Property from the seller and
? Transferring the Replacement Property to the taxpayer

The QI can perform all these without ever actually taking title to either of the properties. The QI is responsible for properly filling out the appropriate tax forms for the client. A QI typically provides three different documents: the exchange agreement, an assignment, and a notice. The exchange agreement is a contract between the client and the QI that sets out the rules, which must be followed in order to complete the 1031 exchange. The assignment of the sales contract to the QI must also be in place. This is because, theoretically, the QI steps into the client?s shoes and sells the property. The third document the QI provides is a notice to the party on the other side of the transaction advising that the transaction is a 1031 exchange. The purpose of notification to the other party is to prove that the exchange was in place at the closing.

An exchanger must be particularly aware of selecting a qualified intermediary before going into the transaction. There are hundreds of qualified intermediaries providing like-kind exchange services today, but most of them don't have the necessary insurance, bonding, financial backing, transactional structure, and internal controls that should be required of them. Exchange funds are often grossly under-insured, under-protected, and at risk. In today's volatile economic climate, choosing a financially solid, time-tested 1031 qualified intermediary with the necessary financial strength, resources and backing are crucial for the safe completion of a 1031 like-kind exchange transaction.

Christine is an expert Internet marketing professional with years of experience in various industries such as: Business, Finance, Real Estate, Web-Design and many more.
1031 Like-Kind Exchange

Corporate Baby Gift Ideas

FAQ #3 from Media Real Estate

Real estate bubble talk seems to be the most prevalent question I'm asked by the national media, be it print, online, or TV. The problem is that the market national real estate is comprised of thousands of micro-markets and making a sweeping generalization about the status of residential real estate in the United States doesn't serve anyone. After all would these journalists want their own home price deflated based on some broad market hype? I don't think so. Here are some common questions with my response.

Is it a buyers market?

Nash: Buyers have more weight in the market then they have had in the last five years, but the market is balanced and doesn't favor either buyers or sellers.

Do you think there is excess inventory of unsold homes?

Nash: The supply of resale homes is certainly up and the number of new construction condos is staggering. Most markets have been vacillating between warm and cool in 2006, so I am waiting for the prospect of pent-up buyer demand to turn into sales before making any forecasts, which everyone is waiting for. It's not easy to read the market at this point in time.

What about 2007?

2007 should be a consistent year sales wise for real estate. People have to remember that housing is also shelter and does not exactly mirror the stock market. People need to live somewhere. Consumer confidence is on the rise, and with energy prices falling, home buyers that have stayed on the sidelines, should make a purchase in 2007.

What about the new Option ARM mortgages?

These mortgages are not so new, but being peddled today to home buyers that probably are over-borrowing if they need an Option ARM. Consumers should know that these loans include negative amortization, which is not in their short or long term financial interest.

Are incentives going to motivate buyers to sign contracts?

Nash: In new construction they are quite common, and do motivate buyers, but many buyers have told me for years that they feel incentives are factored into sales prices, or that prices are raised to include the price of the incentive. In existing homes, incentives are trying to break in to the process, but are being met by buyers with resistance. Most buyers want to cut to the chase and get the lowest price. One exception is flat-screen televisions, they can entice many buyers, especially men.

Seller concessions on resale homes appear to be the buzzword for 2006.

Nash: We are seeing home sellers be much more flexible in 2006 on repairing or crediting buyers for inspection issues. Also they are more likely to help with closing costs. But, they are not giving much on price.

When is your annual report on What's In, What's Out with Homebuyers in 2007 released?

Nash: The second week of December. It has some interesting new trends that are the result of the correcting market in 2006.

How can home buyers, sellers or real estate agents participate in the survey that is part of the report?

Nash: They can visit my website: http://www.1001realestatetips.com, click on For Agents and register.

Mark Nash is the author of Fundamentals of Marketing for the Real Estate Professional, Starting & Succeeding in Real Estate, Reaching Out: The Financial Power of Niche Marketing, and 1001 Tips for Buying and Selling a Home. Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. He contributes residential real estate analysis to Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, The Today Show and USA Today. View his books at http://www.1001RealEstateTips.com

Breast Cancer Recurrence

One of the issues that every breast cancer survivor must deal with is the possibility of the cancer coming back. We call this a recurrence and even though rates of breast cancer recurrence are lower and survival rates much higher, there is still that chance that the breast cancer will come back after the initial occurrence and treatment. There are three ways in which breast cancer can recur.

The first type of recurrence is called a local recurrence. when cancer recurs locally, it will come back in the original breast area. This is because of a failure of the original treatment. Even when there is a mastectomy, a local recurrence can happen because it is impossible remove all the breast tissue, skin and fat from the area. If even one cancer cell remains after the initial treatment, a local recurrence can happen.

The second type of recurrence is regional in nature. By regional we mean that the cancer has come back outside of the original breast and lymph node area. This is considered to be more serious than a local recurrence, but not as serious as a distant recurrence. The areas in which regional spread of the disease occur include the chest muscles (pectoral), the lymph nodes surrounding the neck area, the internal breast lymph nodes in the breast bone and rib areas and in the lymph nodes above the collarbone. This type of recurrence is rare.

The third and most serious type of recurrence is called a distant recurrence. This is also referred to as a metastasis. The areas where distant spread can occur are most likely to occur are bone (25%), liver, brain, bone marrow, lungs or other organs. Sometimes this is referred to as metastatic disease or Stage IV breast cancer. The survival rate becomes much lower once metastasis occurs, with a life expectancy of 18 months on the average after discovering it.

Symptoms of metastatic breast cancer may include bone pain, shortness of breath, lack of appetite, weight loss (possible indication of liver metastases, neurological pain or weakness and headaches.

If you are a breast cancer survivor, you should be aware of the symptoms of metastatic spread. These symptoms can include bone pain (bone), weight loss (liver), loss of appetite (liver), headaches (brain), neurological pain or weakness (brain/spine) and shortness of breath (lungs). However, keep in mind that having one or more of these symptoms does not mean you should panic. A good rule of thumb is the hree week rule. If you have a pain or other symptom that lasts more than three week, see your doctor. If you have an unrelenting pain or constant pain, see a doctor. Cancer pain does not go away compared other types of pain which will come and go. Like back pain caused by muscle spasms and/or non-cancer related disc problem.

If you suspect you have a recurrence of breast cancer, see your doctor. They will schedule some diagnostic tests like a CAT scan, bone scan, or MRI to try to find the root of your symptoms. Usually surgery is not a treatment option, but there are many other treatments, like radiation and/or chemotherapy that could possibly put a recurring cancer back into remission. There are amazing advances in treatment being made all the time.

Michael Russell

Your Independent guide to Breast Cancer

Why Has The Nintendo Wii Become So Popular In Japan