Numbers are out

Here

Lots of stats for the numbers nerds to play around with.

HPI down 2.8% from peak. (Hey the peak is behind us)

Sales down almost 50% from 2009- we already knew that.

MOI for JULY was 7.2

Some HPI comparisons Between June 2010 and July 2010.

Detached July: $793,193 June: $795,025
Condo: July: $387,879 June: $391,528
Attached: July $490,995 June: $492,861.

All DOWN

The importance of timing in the housing market is demonstrated in the line below:

Residential Greater Vancouver $577,074

1 year change = 9.1% 3 YEAR CHANGE =9.1% 5 Year change = 46.0%

Buying a year ago gave you as much appreciation as buying three years ago. that's what a steep drop does for you.

And several areas like West Vancouver which saw nutty pricing a few years ago are still down in price from 3 years ago (with lots of price recent price reductions to still factor in)

We are down anything from 3-6% from the peak a few months ago depending on whether you follow average or HPI.

Neither are ground breaking. However a few points here:

1) It shows that hosuing falls , DESPITE all the pundits and experts.

2) This is exactly what we want...a slow decline.We want a market which allows buyers and sellers to transact based on supply and demand.

NOT for the Government to change the rules and pull the carpet from under the buyers, as soon as they have an upper hand (after years of being in the loser camp).

That is EXACTLY what they did in 2008.

If we had a falling-off-the-cliff event in housing - you can bet that Flaherty and Campbell and their gnomes would be hard at work trying to throw our money at sellers.

SLOW AND STEADY WINS THE RACE...

Most Responsible

The US is seriously underemployed.

Not blessed with the same level of programs we have (but better than say Botswana) the unemployed do not have an easy time. Hence employment levels have always been much higher than in Canada or Europe.

They usually run an unemployment rate of 4-5%. We are now at nearly 10%!

Why? Thanks to these two gentlemen.

Greenspan in pushing financial deregulation:

"The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions .... Derivatives have permitted the unbundling of financial risks." -- May 2005

Derivatives caused the biggest financial collapse and bail-out in US history-AIG.

On the threat of a housing blow-up:

"Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one." -- October 2004

One year of ownership gave him comfort in the equity of someone who BORROWED their down-payment.

Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities." -- October 2004

Unrecognized Borrowing Capacity- huh! You mean folks who cannot and should be buying a house.

In Feb 2004 he told borrowers to borrow short and variable to save 'tens of thousands of dollars in interest payments' and then raised rates 16 X- in effect killing anyone who had followed his advice.

"I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically -- I should say, fully -- hedged." -- 2000

Within 7 short years. Three of the biggest had gone bankrupt- AIG, Lehman and Bear Stern. Citi, Merrill and many others were saved by tax-payer money.

As for Bernanke, listen to this and no more needs to be said

I was too charitable in calling them gentlemen. Fools would have been better. A perfect example of the 'emperor-has-no-clothes' syndrome. Elevate an imbecile to lofty heights and the damage they can do is extra-ordinary.

Tomorrow the US releases it's latest unemployment numbers.

Fabulous Giveaway to CSNStores.com!!(Giveaway Closed)

CSNStores.com has graciously offered one of my lovelies the chance to win a $60 gift card to one of their 200+ stores. I have been checking out their upholstered headboards, and you won't believe their selection. Here are some of my faves from their site:

I love this one. Very cool!

                                     

Can you believe that this is an INFLATABLE Headboard??? Who would have thunk?? And it's a great price too!

I really like the print on this one. It's super chic!

Are you digging these lines on this headboard? The fabric color is Chocolate....how could you possibly go wrong with chocolate;o)

But I'll have to say that my absolute favorite headboard would have to be the Lexington Long Cove Southampton Panel Headboard.

                        

Simply Gaw-jus;o)

As I have told you before, CSNStores.com offers a myriad of items thru their 200+ stores. No matter what you are looking for, they have it.  They have furniture, housewares, lighting, grills, and even things for your little one(Christmas will be here before you know it;o)). They even offer school supplies. I know that's on a lot of your minds this time of year. Definitely check them out!!!

So how to enter the giveaway:

-Leave a comment, as many as you please. 

I would love it if you would become a follower as well:o) Good for the ole ego;o)

Anyway, this giveaway is open to U.S. and Canadian residents only. You have until 7:00 p.m. on Sunday, August 8th to enter. Good luck to you all!!
This Giveaway is Closed.
p.s. I think I will wait to reveal the bathroom on Monday:o)

We are not amused....!

That apparently was the way Grand old Queen Victoria used to indicate her displeasure with something.

Well, her namesake city seems to be in the same predicament (unless you are waiting to buy of course). The Victoria REB July numbers are out.

527 sales compared to 933 in July of last year.

Average prices down in all categories..here..especially town homes which look to be on a steady down-trend.

The blurb they put out out tries to put the best spin on it...16 sales over $1 Million, even mentions one over $1 M in the Gulf Islands. Since when is one sale over $1 Million newsworthy, used to be a common occurrence.

No mention of the fact that the Gulf Island SFH average tumbled 12% from the 6 month average.

527 sales, 4477 listings = 8.24 MOI at this rate.

Remember slow and steady is what we want to keep the politicians from using our money to prop things up again.

Tuesday Tutorial-How to Make a Topiary

I love topiaries. I think they add just that extra touch to a grouping. I have never bought any because I always thought that they were a little pricey. Well now I know why:o) More on that in a minute...

I have been eyeing these topiaries in the Ballard Design catalog for quite a while now.

Each one starts at $19 and goes up to $29. I am not willing to pay that. I am cheap. I know that about myself. So I thought I would try to make one. I have had the stuff to do it for a few days, but couldn't find the time to sit and put it together until 5 a.m. yesterday...yes you read right...my wonderful son woke up at 4 A.M. hollering for me, telling me to come here right now. When I finally made it to his room, stumbling, trying to walk straight since my legs were still in bed, he informed me that he wanted Daddy???? WHAT!! After making sure that he understood that everyone in the house was asleep but us, I tried to go back to sleep....after an hour of tossing and turning I decided to head to my craft closet. I saw all the supplies for the topiary lying on the floor and thought why not tackle this now, with no interruptions. So here's what you need.

-1 Styrofoam ball (I used a 3" ball, but you could use a smaller one)

-Greenery, get the good stuff. Mine came from H.L. and it was $15.99 BEFORE the 50% off sale.

-Patience

-Hand Saw

-Tree

-Small Pot

-Styrofoam for pot

-A little green stuff for inside the pot

Pull or cut off pieces to stick down in ball. The greenery that I purchased was nice b/c the pieces just pulled right off of the stems. They were between 3" and 4" long. I just shoved them down in the ball....didn't use a glue gun, just shoved them in far enough to stick. Make sure to keep the pieces fairly close. This will take about an hour:o)

When you have neared the end, make sure to leave a space for your stick. You will find said stick out in your yard. This is where the hand saw comes into play. 

Find the nearest tree that has some firm branches about a half inch thick and are somewhat straight, and hack it off. Force it in the bottom of the ball, making sure to put it in straight:o) Place Styrofoam in the bottom of the pot, and force the other end of the stick in the foam.Cover the base of the topiary with moss. I had some sitting in another basket, so I borrowed some from it;o) The pot was something I had in the backyard with a dead plant in it. I just spray painted it and it was good to go.

I really like how it turned out. This topiary cost less than $10 to make, but it was time consuming, so that may be why these things are so stinking expensive:o)

I think it works nicely on the mantle. I have plans to make a sign to put in front of the headboard. I just need some old wood....got any?;o)

Well that's it for Tuesday Tutes....my "Powder Room" is almost complete. I found a lot of good stuff from H.L. today. Just a few more finishing touches before the big reveal.

I'm Back

Hello my long-lost lovelies:o) Hopefully you haven't forgotten about me...I haven't forgotten you. I have been extremely busy these past few weeks, as I am sure that you all have been too. Trying to squeeze in a few more activities before the new school year starts. My little man will be starting preschool this year...sniff, sniff. He's so excited! He thinks he is going to kindergarten;o) Little does he know that he still has 2 more years before that happens. THANK GOODNESS!
Anyway, I have been working on a few projects over the last few days. I had been taking a little hiatus from the crafting world, but I'm back at it again. I started on our half bath on Saturday. Heading to Hobbly Lobbly for some accessoriztion today. I'm hoping to share the reveal tomorrow or Wednesday.
Here's a little something that I did while on said hiatus. A sippy cup holder for a friend:

This is some fabric that I have had for about 2 years. I made E some jon-jons with it when he was a wee one. They were so cute on him:o) Anyway, hoping to have a tute lined up for you guys tomorrow, so maybe I won't reveal the bathroom until later on this week. Is that wrong to change my mind in the middle of a post?;o) Have a great Monday!!!

Down-dooby-doo-dum-down

Once again Kudos to Larry Yatter for getting those numbers out first and proving that lines do not go straight up forever.

I think we could all see this coming. Yes, new listings had slowed down, but sales have been sliced in half...despite the great-weather-low-interest-rates-rich-Chinese-no-land.

We are solidly over 6 MOI in almost every area.

Lets see what the HPI brings in a few days.

BTW- What is that terrible smell that has been blanketing Vancouver for the last week? It smells like a big stinky fart!

Down-dooby-do-dum-down