“Indeed, the second half of 2010 has proven to be weaker than expected, and Calgary’s housing market is taking some time to re-gain traction,” says Diane Scott, president of CREB®. “Subdued sales have meant buyers have an abundance of products to choose from, and they can be selective in their buying criteria.”
“Housing sales numbers were fairly typical for a November and indicate a fairly balanced market. Activity on the buyer side has been stable, with slight increases, over the last few months while the number of homes listed for sale in our region has declined each month since we reached a peak in June,” Jake Moldowan, REBGV president said.
“Consumers are responding to how prices have moderated in the last six months, in addition to the double dip in mortgage rates,” says Deanna Horn, Board president.
“Last year, we experienced the busiest July in our history and this year it was the quietest in a decade,” says FVREB President, Deanna Horn. “Although the real estate market typically slows in the summer months, we didn’t anticipate this level of change.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,255 in July 2010. This represents a 45.2 per cent decline from the 4,114 sales in July 2009, the highest selling July ever recorded, and a 24.1 per cent decline compared to June 2010.
A Message from the Chair, Hali Strandlund, AMP
This is my last Update as Chair of CAAMP and I would like to take this opportunity to thank the 2009/2010 Board of Directors and CAAMP management for the support and advice they provided me throughout the past year. In particular, I would like to acknowledge the contributions of those board members who will be stepping down after their terms expire: Sam Carnovale, AMP (Ontario), Bonny Clarke, AMP (Alberta/NWT) and Naureen Durack, CHA (Quebec). These individuals were an invaluable resource to the board and the association during their tenures. I would also like to acknowledge the contributions and dedication of Past-Chair Pierre Martel, CHA whose support and commitment to CAAMP and to our industry have been invaluable. Tomorrow, a new Board will be established and I wish them and my successor, Joe Pinheiro, AMP all the best for the year to come.
It has been an honour to serve such an active and professional association.
MORTGAGE FORUM 2010 - November 21 - 23
The mortgage industry's largest and most important event of the year is just over one month away! During the three days of the Conference you will be captivated by the informative and educational speakers. At CAAMP Expo, you'll have the opportunity to talk one-on-one with leading industry representatives to gain knowledge and product ideas to help grow your business. Mortgage Forum 2010 also represents the ideal venue to network with your peers. Can you afford not to be there? For speaker line up, registration, hotel bookings and complete conference details- click here
CANADIAN MORTGAGE HALL OF FAME - Sunday, November 21
Join your friends and colleagues at this black-tie affair honouring three of the industry's finest: Pierre Martel, CHA, Jan Rice, AMP and Gary Siegle, AMP. Featuring entertainment by master impressionist Martin Dubé, this promises to be a memorable affair!
The Awards Night also recognizes the winners of the 2010 CAAMP Industry Awards:
- Michael Ellenzweig Outstanding Service Award -
Sam Carnovale, AMP and Paula Roberts, AMP
- Partners in Excellence Award - Merix Financial
- Founders Award - Andrew Moor, AMP
- AMP of the Year Award - Yousra Jomha, AMP
- AMP Corporate Excellence Award - Mortgage Architects
Ticket sales are going quickly so register now to avoid disappointment. To purchase tickets - click here
2010-2011 BOARD OF DIRECTOR ELECTIONS
Voting for the 2010-2011 Board of Directors concluded last week and voter participation was very impressive. The successful directors will be officially announced tomorrow during the Annual General Meeting in Winnipeg.
EVENTS - Mark your Calendars
CAAMP's 2011 Calendar of Events is now available. Next year's lineup offers the tools and opportunities to help you advance your business and stay competitive. To view the Calendar - click here.
CAAMP is pleased to offer a variety of education offerings including pre-accreditation courses for those looking to obtain the AMP designation; licensing courses for individuals wanting to become licensed in Ontario and Saskatchewan or simply enhance their foundation of mortgage industry knowledge and webinars for those looking to obtain Continue Education (CE) credits.
Designed to increase efficiency and productivity to stay competitive, CAAMP's education offerings are available in a variety of convenient formats. For information and registration - click here
The 2010 AMP Poster is available for order on the CAAMP website - two sizes are available. To place your order - click here
CAAMP's 2009/2010 Annual Report is now available on the CAAMP website. To view the Report - click here.
The October issue of Mortgage Journal magazine is now online. To start reading - click here
A non-member brokerage firm was displaying the CAAMP name and logo on its website. The person who registered the business name for the brokerage was told to cease and desist usage of the CAAMP brand until such time as he becomes a CAAMP member and all of his agents become CAAMP members.
The new mortgage brokers legislation in Saskatchewan is now law. For further information - click here.
The Ontario regulator FSCO is currently undertaking an audit of mortgage brokerage firms to ensure they have the required Errors and Omissions (E & O) insurance coverage. For more information and to subscribe to CAAMP's E & O policy - click here.
TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported
in January 2010. "While off the record pace experienced a year ago, the GTA resale market has started the year on a solid
footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing
types for sale at many different price points," said TREB President Bill Johnston.
“The GTA resale market has tightened since the summer. Healthy market conditions continued to support growth in the average selling price,” said Toronto Real Estate Board President Bill Johnston.
Members of the Ottawa Real Estate Board sold 1,149 residential properties in July through the Board’s Multiple Listing Service® system compared with 1,578 in July 2009, a decrease of 27.2 per cent.
This represented a 29 per cent decrease compared to the 3,832 sales recorded during the same period in 2009. New listings, at 4,770 were down eight per cent compared to the first two weeks of August 2009.
“The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring,” said Toronto Real Estate Board (TREB) President Bill Johnston.
“Riding the wave of renewed economic growth and the recovering labour market, the volume of IC&I leased space continues to run well above last year’s levels,” Commercial Council Chair Larry Purchase noted.
Anyone needing to meet the education requirement to become a mortgage agent in Ontario
Anyone wishing to gain knowledge about Canada's mortgage industry