REAL ESTATE IN TERRACE

Facebook - The Enemy of Discretion

2011-09-02T12:03:00.000-07:00

As a Realtor I get many emails suggesting I attend this Seminar, Course or talk on how to make Facebook work for me in marketing my listings. I get that. A listing can get good exposure being advertised or "liked". I'm not certain many buyers start their new home search on social media but any exposure is good exposure when you have a listing to sell.

Then there's the down side of Facebook and selling real estate. Terrace is a relatively small community and eventually everyone is either a "friend" or a "friend of a friend". Somehow or other everyone on Facebook is in the same community - the Facebook community.
There are times when this could be a problem. For example, Robert's house has been listed for a couple of months and he hasn't had any offers. His Realtor has suggested he reduce his price. Robert goes on Facebook and comments to a "friend" that he only needs to get $xxx for his home so he's not unhappy about reducing the asking price. The next day, voila, he gets an offer for $xxx! A friend of a friend of a friend has found his bottom line and he gave it away himself.
Another scenario is that Jane has made an offer on a listing and is in the process of negotiating. She loves the house! She absolutely loves the house!! and says so to her "friends". The seller sees this because a friend of a friend "likes" it. The seller is no longer worried about the buyer walking away and feels comfortable with his unreasonably high counter-offer.
In competition it's best to hold your cards close to your chest so the other players can't see them. I'm not saying don't go on Facebook when you're buying or selling a home. But please be careful what you say while you're there. There are "friends" watching, even if you can't see them.

Signs, Recipes, Decorating Tips and Blowing my own Horn

2011-06-16T13:47:00.000-07:00

I see I have five draft blogs started, none of which became interesting enough to post. Here's an amalgamation of those five false starts, just to get them out of the oven and onto the table.

Speaking of ovens, one of my favourite things to do is eat. Here are a couple of shrimp recipes for your dining pleasure. (from the May issue)

We have new signs on the Re/Max Coast Mountains building. (see photo - see mountains - don't they look like the mountains on my web site!)

Next, here's a news article about the cost of housing. We're very fortunate in Terrace that not only do we have clean air, clean water, and everything convenient to wherever we are, but housing is still very much affordable. Not so for most, according to the poll attached to this article. Affordable housing: Can you afford to buy at current prices? - Your Community

On a brighter note, it's Summer! Every home needs a little seasonal refreshment at this time of year. Here's an article that's timely and fun. Enjoy reading here. (from the June issue)

Last year I took a course provided through the University of British Columbia and wrote my Broker's Licensing Exam. I'm happy to let you know (because I seem to have forgotten to tell people) that I passed with flying colours and am now qualified to open my own office as a managing broker. I'm not planning to do that at the present time but I'm very pleased to be able to offer a more qualified and better trained Realtor to my clients. Last year I also took the Negotiating and Presenting Offers course. The previous year I went to Smithers for the Know Your Product sessions and learned more about construction, heating, plumbing, wiring, etc. Not planning on being a home inspection any time soon though.

I think that catches me up and will allow me to delete some draft blogs and clean up my dashboard. (You bloggers will know what I mean.)

Now get out there and enjoy this wonderful sunshine!

An Offer - Now What?

2011-05-12T09:26:00.000-07:00

Your house is in tip-top condition. You keep it clean and tidy so it looks its best when prospective buyers tromp through with their critical eye.

Then one day you get an offer. This is very exciting, and very stressful. You're holding the contract in your hands. You have decisions to make. You can do one of three things.

1) Accept the offer exactly as it's presented without making any changes at all. Just date and sign.

2) Make some changes to the offer to make it more in line with what you were hoping would happen. Maybe it's a closing date you want to change, you want to keep the light fixture in the living room or the curtains in the bedroom or, inconceivably, the price offered is just too low.

3) Just do nothing. Ignoring an offer is an option too.

If you accept the offer exactly as it's presented, within the time limit contained within the offer, the people making the offer are bound by it, and you have a firm contract. Provided there are no conditions contained in the contract, your house is sold. If there are conditions they will have to be satisfied within the time set out in the offer before your house is sold.

If you make any changes at all to the contract that contains the offer, even the smallest change, the people making the offer are no longer bound by it. What you now have is a counter-offer. This counter-offer will have to be accepted by the other party before it's a binding contract. If they accept your changes but then make their own changes it is, once again, not binding on you. You have to sign off on those changes before it's a firm contract. Even if everyone says they agree, that agreement is not binding and can be revoked until the contract is signed by all parties involved. There's a saying out there to the effect that a verbal contract isn't worth the paper it's written on.

The "do nothing" option seems to be self explanatory, but I find it doesn't serve any useful purpose. A counter-offer let's the prospective buyer know where you stand better than dead air ever could.

If you want to give the owners of the above home or any other home these difficult decision to make, just give me a call.

Market Looking Up!

2011-03-21T09:38:00.001-07:00

The real estate market here in Terrace might just be looking up. Most of the stats we get relate to the Northern Real Estate Board area, the whole Province or even the entire country, but this is just for Terrace. Here's the graph for Single Family Sale Price all the way from 2002 to the end of February 2011. If you look at the very right hand side of the graph that last point is for February 2011. Two things stand out for me:

The first thing that stands out for me is that the little green and red peaks are really tall! They are both standing head and shoulders (if they had a head and shoulders) above the peak for the month of January. Part of that is seasonal, but what it means is that the average single family residence in Terrace sold for much more in February than it did in January. Not only that, the average price is higher than it's been since this graph started in 2002! That's promising.

The second thing that stands out for me is the heavy black line is heading upward. This line represents the three month moving average, so it essentially averages out the average. This line usually heads up and down on a regular basis. It's not at its highest point since 2002 but it's headed in the right direction. Also promising.

Can't wait for the next end of the month stats! This is one of the most interesting aspects of working in real estate. People are still number one. Thanks for visiting.

Home Sales to Climb Eight Per Cent in 2011

2011-02-23T09:56:00.000-08:00

Vancouver, BC – February 23, 2011. The British Columbia Real Estate Association (BCREA) released its Housing Forecast for the first quarter of 2011 today.
BC Multiple Listing Service® (MLS®) residential sales are forecast to increase 8 per cent from 74,640 units in 2010 to 80,900 units this year, and increase another 4 per cent to 83,950 units in 2012.
“British Columbia housing markets are returning to normalcy after two years of volatility,” said Cameron Muir, BCREA Chief Economist. “Employment and population growth will fuel consumer demand over the next two years. However, higher mortgage interest rates and tighter credit conditions for low equity home buyers will limit home sales to below the ten-year average of 87,600 units.”
“Total active residential listings in the province declined 14 per cent since last spring. However, the inventory of homes for sale is expected to edge higher as the number of new listings to the market advances during the first two quarters of 2011,” added Muir. “Regional market differences continue in the province, with Vancouver trending into a seller’s market, while the Okanagan, Kootenay and Kamloops markets trend from a buyer’s market toward balanced conditions.”
The average MLS® residential price is forecast to increase 2 per cent to $517,000 this year and remain relatively unchanged in 2012, albeit declining by 0.4 per cent to $515,400.
The full BCREA Housing Forecast Update is available at: ww.bcrea.bc.ca/economics/HousingForecast.pdf.

Housing Market Continues Normalization Trent

2011-02-14T13:35:00.000-08:00

Vancouver, BC – February 14, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 7 per cent in January from December 2010, on a seasonally adjusted basis. Compared to January of last year, MLS® residential unit sales were down 10 per cent to 4,137 units. The average MLS® residential price rose 11.5 per cent to $548,183 in January compared to the same month last year.

"Consumer demand continues to normalize alongside overall economic conditions,” said Cameron Muir, BCREA Chief Economist. “However, the pace of growth in home sales experienced since last summer is likely to moderate in the coming months as tighter credit conditions and upward pressure on mortgage interest rates impacts affordability and purchasing power."
The inventory of homes for sale remained below 47,000 units for the third consecutive month in January, down 14 per cent from the spring of last year. “While demand and supply conditions province-wide exhibited balance last month, regional differences are pronounced,” added Muir. “Housing markets in the Lower Mainland/ South Coast exhibited stronger conditions than in the Kootenays and Okanagan, which remained in buyer’s market territory in January."

Changes in Mortgage Rules

2011-02-01T15:49:00.000-08:00

There were changes to the Mortgage Rules announced last week (or was it the week before - time goes by so quickly). These changes will come into effect in March and might affect you when you want to buy or re-finance your home so here they are:

• The maximum length of time over which you can finance your mortgage will be changing from 35 to 30 years. This would increase your monthly payment and will reduce the amount you will be able to spend on a home. Always shop for a home with up to date information from you lender so you know what your limit is.

• You will no longer be able to have a CMHC insured Line of Credit secured by your home.

• The maximum amount you will be able to refinance your home to is 85% of its appraised value - changing from the current 90%.

There were no changes announced to the minimum down payment on the purchase of an owner occupied home which is currently at 5% down.

Now let's get out there and find the right home!

When Buying or Selling a Home - Things to Consider

2011-01-21T11:09:00.000-08:00

Your home is probably your largest single investment, so lets look at a few things you might want to think about whether your buying, selling or just living.

Residential real estate is sold "as is" so it would pay to check it out before you commit yourself. There is no such thing as a perfect house. Things wear out. Sometimes they aren't done correctly to begin with. I always recommend hiring a professional home inspector (who must now be licensed - so ask to see the license). This will help avoid surprises after the fact.
The City keeps files containing things like house plans, occupancy permits, building permits, correspondence, etc. The information cannot be copied but it can be viewed on site. It's like a view into history and several times I have found it well worthwhile. What does your file look like?
A wood stove can save you money on your heating bills but will cost much more if it burns your house down. Even a properly installed wood stove will wear out eventually. Don't start a fire until that stove has been inspected and approved. While you're at it have the flues checked for cracks.
Used appliances don't come with a warranty. If it's important to you make sure they work. Some home inspectors will make this part of their inspection.
Unless a lease is in place, most tenants are on a month-to-month tenancy. Proper notice and procedures must be followed to terminate a tenancy. Because of the human factor there are no guarantees.
Everyone has a different standard of cleanliness. A home might not be to your standards. On viewing a property you can get an idea of how it might be left. To be safe, count on cleaning it yourself or hiring someone to do it. I hope every home is left clean for the new homeowner.
Occasionally a seller doesn't remove their garbage (or even all their furnishings) on possession date. Garbage removal does involve time, effort and money. In some situations this can be handled right in the offer if a large amount of garbage is noticed when the property is viewed.
At least one key will be turned over to you on possession day. We cannot authorize you to use the key any sooner than what has been agreed to in writing. Homeowners misplace keys, lose keys, give keys to tenants and/or friends, or may not even have keys to all doors. I recommend having your new home re-keyed as soon as possible. It's worth your peace of mind.
Every new owner must make their own arrangements with each utility. Don't have your gas shut off because you forgot.
Your bank will require proof of adequate building insurance in support of their financing. This is one of the larger expenses of closing.
Above ground oil tanks can be easily dealt with. Those that are underground will present a problem on the purchase of a property. They represent possible contamination sites that are expensive and complicated to remove and clean up. If you have an underground oil tank deal with it before you list your house.
Septic systems require maintenance and do not last forever. Because every family lives differently it might not last as long for one family as it would for another. Some fields can experience difficulties during heavy rainfall or spring melt.

There are many more things to consider and I'm going to leave that for another day.

Neighbourhood Directory

2010-12-09T16:14:00.000-08:00

Hi Fellow Terracites!

I'm preparing an updated edition of my Neighbourhood Directory for Terrace residents. It's a handy list of numbers and information that saves wear and tear on the phone book and plenty of time for the user. If you have a group or a service that you would like to be included in the Directory just give me a phone call, email or text. It's free advertising and puts your name and number right in front of the users' eyes.

I'm looking forward to hearing from you.

Marion
(250) 631-3101

Chanages, Local and Otherwise...

2010-11-16T11:16:00.000-08:00

Hello from Re/Max Coast Mountains!

Things are happening here at Re/Max in Terrace. We've changed our name from Re/Max of Terrace to Re/Max Coast Mountains. This accommodates our new office in Cow Bay, Prince Rupert. It's a beautiful office and just big enough for Mike, Clayton and Courtney. I liked the colour of the walls so much I painted a room at home the same colour. Check it out the next time you're in Prince Rupert.

Another change I've noticed recently is that my web site (http://www.marionolson.com/) has been getting lots of attention. Every week I get stats on how many unique visitors I have and the numbers keep going up. Yesterday I compared views of a particular listing on my site to views of the same listing on the MLS® site. I was amazed to find 370 views on my site compared to 255 views on the other. Syndication to other site really does get your listing more exposure! Obviously then, if you list your home with me it will get more online publicity.

Marijuana grow-ops are another change. I've listed a couple of them lately and each time my seller disclosed the fact that the home had been a former grow-op. In a discipline report I see a fellow Realtor® was found to have committed professional misconduct by failing to disclose to buyers that marijuana had been grown outside of the house on the listed property. Something to think about if you are planning on selling your home and taking up herbal horticulture.

My new business cards have an Amortization Table on the back showing how much your mortgage payment goes up for each additional $1,000 on your mortgage. The chart covers a mortgage term from 5 years through to 25 years, and from 3% to 7%. The cards are at the reception desk. Please feel free to pop in and pick on up.

Keep safe and warm.

Welcome to Terrace!

2010-11-02T05:42:00.000-07:00

Today I called on a client who recently moved to Terrace from another city, just to see how things are going for her. Pulling up in front of her new home I see bags and bags of what look like leaves and other yard debris. She's been busy! In spite of the low cloud and heavy rain the yard seems brighter somehow. There have been a few trees removed. She's been very busy indeed! There's a beautiful tortoiseshell cat sitting on the sill looking at me through the window. Sweet.

Before I get to the door it's open and she's there smiling a warm welcome. I'm invited in. Her home is warm and comfortable. She has brightened it up by changing window coverings and decorating cheerfully. I'm pleased to hear that she's happy with her new home. That's one of my goals. She's enjoying living in Terrace. Bonus. She's found a job already. Good news. It's a full-time job that's nearby with plenty of opportunity. It just keeps getting better!

The purpose of my visit was to see how things had worked out for a client. The result of my visit was a personal warm glow I intend to enjoy for days to come. Terrace has a new resident, she's happy, hard working and successful. The perfect relocation. What could be better?

Some Interesting Statistics

2010-10-07T11:08:00.000-07:00

I like to post, on my bulletin board, a graph of Terrace Single Family Residential Sale Prices. I just printed off the graph covering the period from 2001 to the end of September 2010. I see actual sale price has been up for the past two months in a row, the 3 month moving average is up, and the median is moving ever so slightly in that direction as well. I'm feeling optimistic!

So I have a look at the actual statistics:

The number of area total sales for last month were identical to area total sales for September of last year.

The value of area total sales for last month is over $300,000 higher to the value of area total sales for September of last year.

Number of listings, both last month and year to date, is down from last year. Perhaps the market is balancing. Yay!

As of today 126 of the 209 current listings are single family detached homes. Make your choice soon because the good ones will go first.

Perhaps I'll compare the current stats to two years ago and three years ago when I have some time. I'll let you know how it goes.

List Prices are not Sold Prices

2010-06-18T08:58:00.001-07:00

Looking at the prices of the current listings on realtor.ca may not be an accurate reflection of the current value of your own home. Many homeowners take a peek at what's for sale and apply that to their own home, thinking that the selling price of those homes may actually be what the asking price is. Not necessarily so. When the housing market is hot and there is more than one buyer for each listing, offers might be full asking price offers, or even above asking price offers if the home is really desirable, one of a kind, or exactly what that particular buyer is looking for. In a buyers' market, like we have here in Terrace right now, there are a lot of homes to choose from and buyers can approach sellers with offers further below the asking price to "test the waters" before bringing their top price offer.

Having said that, last month the average sale in Terrace was approximately 95% of the asking price. That statistic doesn't take into consideration the number of listings on the market that didn't sell last month, or the month before, or the month before that. An overpriced home will sit on the market month after month and may never get to be included in the "sold" statistics. If you're comparing your home to the houses on the market that haven't sold the pricing information your gaining has nothing to do with the current market value of your home. A home owner can list their home for whatever they want and many don't take the advice of their agent.

To know what the actual market value of your home is you need the inside information that your real estate agent has. You need to compare your home to comparable homes that have actually sold in your area recently. If you're thinking of moving up give your REALTOR® a call and get the truth about the market value of your home. It's well worth your time.

Some Info and Stats on Current Listings

2010-05-25T15:28:00.000-07:00

Hello from Terrace. I had a great Victoria Day weekend and hope you did too. The tour of new listings had 7 homes on it this morning. (We tour new listings on Tuesdays and Thursdays.) Today the tour covered the Horseshoe, the Bench, Southside, Thornhill, Jackpine and Lakelse Lake. Quite a large territory and we saw some truly beautiful homes.

Looking back over the last seven days there have been 13 new listings showing on the MLS site, and 7 older listings reduced their asking price in hopes of inspiring more interest. Only 5 sales were reported in the last 7 days, and the total number of listings is up to 266. The number of detached residential listings in the total listings is 160. That's many more homes looking for buyers than buyers looking for homes, so it's a great time to buy. Especially with interest rates so low.

I'm looking forward to the end of the month when we get to see what the average detached home sold for this year compared to this time last year. Talk to you then.

BC Home Sales Less Volatile

2010-05-14T10:54:00.000-07:00

This just in from the British Columbia Real Estate Association:

Vancouver, BC – May 14, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 21 per cent to 8,385 units in April compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province declined 4 per cent from March 2010. The average MLS® residential price climbed 15 per cent to $514,820 in April compared to the same month last year.

“BC home sales have trended on an annual rate of 84,000 to 86,000 units over the past three months, down from the 108,000 unit pace recorded in the fourth quarter of last year,” said Cameron Muir, BCREA Chief Economist. A total of 85,028 MLS® residential unit sales were recorded in 2009. “Higher home prices, particularly in Vancouver, the Fraser Valley and Victoria as well as a recent lift in mortgage interest rates has eroded affordability and had an impact on overall housing demand,” added Muir.

The BC residential sales dollar volume increased 73 per cent to $13.5 billion in the first four months of 2010, compared to the same period last year. Residential units sales rose 47 per cent to 26,669 units year-to-date, while the average MLS® residential price climbed 17 per cent to $507,616 over the same period.

Thinking About Buying Land

2010-04-20T16:44:00.000-07:00

Most of us dream, every now and then, of owning that quiet plot of land we can call our own. No, not that plot! One we'll be using while we're alive, enjoying the fresh air, green trees, the sound of the babbling brook, fishing in the lake, or building our dream home.
A vacant piece of land might sound easy but there are many things to consider before making the leap. Things like elevation, for example. We don't want to hurt ourselves when we leap, and we don't want our property to be under water during spring thaw. If our land is in the quiet countryside we need to consider who our neighbours will be; are they noisy, quiet or smelly? And what about drainage for a septic system? Will there be water within striking distance when we want to drill a well? Can the property be subdivided so we can divide it between the children? Is it in the Agricultural Land Reserve? What is the zoning and can we put our dreamed of artist colony there? And are there any volcanoes nearby waiting to erupt?
There's plenty to think about and I'd love to help you answer these questions and many more.

B.C. Home Sales Moderate in First Quarter

2010-04-13T09:41:00.000-07:00

Vancouver, BC – April 13, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 43 per cent to 7,110 units in March compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 6 per cent compared to February 2010. However, home sales in March were 20 per cent lower than December 2009 on a seasonally adjusted basis.

“Home sales have moderated since the beginning of the year,” said Cameron Muir, BCREA Chief Economist. Waning pent-up demand and eroding affordability were key factors in the market. “Despite an improving provincial economy, higher mortgage interest rates and tighter credit conditions for low-equity homebuyers and investors will squeeze some prospective buyers out of the market this spring,” added Muir.
The BC residential sales dollar volume increased 95 per cent to $9.22 billion in the first quarter of 2010 compared to the same period last year. Residential units sales rose 64 per cent to 18,284 units, while the average MLS® residential price climbed 19 per cent to $504,312 over the same period.

Now for some local information, here's the graph for Terrace Single Family Residential Sale Price:

The Yaris has Balloons!

2010-04-06T16:20:00.001-07:00

As you can see, it's a rainy day in Terrace. And I took delivery of my freshly decorated Yaris! I'd love to hear what you think. You can let me know at m.olson@remax.net

RE/MAX is Most Trusted!

2010-03-17T10:21:00.000-07:00

"Congratulations to RE/MAX associates on being voted Canada’s Most Trusted Residential Realtor by readers of Reader’s Digest magazine. Reader’s Digest announced it’s “Trusted Brand Awards 2010” last month which are scheduled to be released in the May issue.

A study was conducted for the annual awards which asked respondents, unprompted, which brands they trust most within 28 different brand categories. Brand reputation, in this case, represented consumers having a positive personal experience with the brand. 30% of Canadian’s surveyed answered that RE/MAX was their most trusted residential realtor, that’s an impressive five times more than the runner up. This confirms who is Canada’s Favourite AgentsSM."

Any Realtor Worth His/Her Salt

2010-03-10T12:52:00.000-08:00

I don't know where the "worth her salt" phrase came from, but I expect it has something to do with sweat.

I do know any Realtor worth his/her salt will put in the extra effort; "go the extra mile" as it were. I am decidedly that way. When you list your home for sale with me you can rest assured that you'll receive the best care possible. If you have a good reason to believe something new would be more effective I am always willing to change a photo or listing description. I will meet with you where you wish and a a time that's best for you. If the market is slow and the listing isn't as fresh as it could be I'm always happy to renew and refresh it.

I can also ensure that those fresh listings will have the broadest market exposure possible. I not only place them on the MLS but also on numerous syndicated internet sites connected to my personal site, plus I will post them on independent sites such as Craig's List. That way I ensure the largest number of buyers looking for a property have access to information on your property resulting in the highest price in the shortest possible time.

Preparing your Home for Sale

2010-03-01T14:32:00.000-08:00

A while back I blogged about preparing the exterior of your home for sale without spending a lot of cash. Today I'm thinking about preparing your home in the inside. Here are a couple of ideas:

1) Less furniture makes a home look bigger. Go through your home and take a couple of pieces of furniture out of each room. You're moving anyway so get rid of what you don't want to take with you and put in storage what you want to keep. Just keep enough to make each room look functional. You love you bookcases but they take up space, and your grandma's rocking chair has sentimental value but it uses more room than a stationary chair. You get the idea.

2) Now that you have fewer horizontal surfaces you probably have less clutter. Get rid of the rest. Remove personal items such as photographs and artwork. That storage locker you rented can hold quite a bit. Your closets and cupboards could use a de-cluttering too. Less is more. When the prospective buyer looks into your bedroom closet you want them to see that there's lots of room in there.

3) It is now easier to clean. Shampoo the carpets, polish the wood, dust everything including the tops of doorways, window sills, the blades of your ceiling fan and light fixtures. Look in all those places you don't usually see and clean them. Re-grout, re-stain, paint... you get the idea... make like new.

4) Add new touches where you can afford to. Some things to consider are the hardware on cupboards, replace worn faucets in the kitchen or bathroom or add new electrical fixtures. You can buy new burner drip catchers for your stove, new curtain for your shower, new towels can look lovely in both kitchen and bath. You've already cleared the clutter off the counter in the bathroom so add a scented candle and a basket of new rolled small towels or face cloths.

I'm in mid-project at my own home right now. We've pulled up our carpet and there was no hardwood underneath. No, it wasn't a surprise.

Call me for more ideas. It's always easier to delegate than to do.

Why Hire a Realtor?

2010-02-23T16:03:00.000-08:00

I've been thinking lately about the value of Realtors. Partly because of comments posted in response to the Globe and Mail article published February 8 in connection with the Competition Bureau and MLS rules. At last count there were 301 comments under the comments tab, and very few of them were flattering. http://tinyurl.com/yl6edeg

After careful consideration I've come up with reasons to hire a Realtor. First, as per the article referred to above, there's the MLS. It's an amazing tool that gets your property in front of many, many eyes. Also, if your Realtor has their own web site (and I have an amazing one) there's an even wider exposure. The private "for sale by owner" sites can't provide the exposure that MLS does and I don't think anyone argues that.

The main reason to hire a Realtor is the human factor. Web sites are cool but they don't talk to people and get to know them, finding out what they need and what they want; what their lifestyles are and what they dream of owning. When you list with a Realtor you hire every Realtor working in that market area. Those Realtors know the buyers looking in that area and they know if your home is right for them, even if the buyer may not know it. When you list your home with a Realtor you have every Realtor in town working for you. Even when your Realtor takes a day off (it does occasionally happen) the rest of them are out there keeping your home in mind when they talk to their buyers. When you sell privately you have yourself, your friends and acquaintances. How many buyers do they talk to every day?

And buyers don't have to pay a thing for all the services, advice and protection we offer.

So make your nasty comments, people who read the Globe and Mail. I can tell that most of them are not aimed at small-town-north Realtors (especially those comments that refer to making a lot of money). I'm confident that we provide a valuable service. The fee structure may need to be changed, but if I were paid by the hour for the work I do I'd be much better off.

Mortgage Rates Drop

2010-02-13T12:11:00.000-08:00

TORONTO, Feb. 11 /CNW/ - BMO Bank of Montreal announced today it is decreasing its residential mortgage rates, effective February 12, 2010.
"We are heading into one of the busiest periods for homebuyers and it's important for our customers to be prepared when they make their financial decisions," said Jane Yuen, Senior Manager for Mortgages, BMO Bank of Montreal. "A good first step is to stress-test your budget so you know what you can afford and look for ways to save on interest costs, such as choosing a shorter amortization and making prepayments."

BC Home Sales Moderate in January

2010-02-11T10:07:00.000-08:00

Vancouver, BC – February 11, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 118 per cent to 4,619 units in January compared to the same month last year. On a seasonally adjusted basis, MLS® residential sales in the province declined 16 per cent last month compared to December 2009.

“Home sales in the province eased in January as a result of waning pent-up demand and eroded affordability,” said Cameron Muir, BCREA Chief Economist. “While low mortgage interest rates will continue to entice many home buyers through the spring market, consumer demand is expected to moderate from its frenetic year-end pace."
The BC residential sales dollar volume increased 160 per cent to $2.27 billion in January compared to the same period last year. The average MLS® residential price climbed 19 per cent to $491,571 over the same period.

"Upward pressure on home prices, particularly in Victoria, Vancouver and the Fraser Valley, is beginning to slow as fewer home sales and a larger inventory reduce the chance of multiple offers,” added Muir.

Comparing January 2010 to January 2009

2010-02-03T14:05:00.001-08:00

The numbers are out for January for Terrace, and I do love numbers!

Vacant land sales are up by volume. An interesting thing to note is that those vacant land listings that sold in January this year were on the market an average of 204.6 days. Last year the vacant land that sold had been on the market 72 days. There's a story there.

Exactly the same number of Single Family Residential listings sold in January 2010 and in January 2009. The average time on the market for this year's sale had been 102.3 days. Last year the listings that sold in January had been on the market 123.6 days.

I'd like to share more but I'm off to show homes for sale. Working on the stats for February!

Don't hesitate to call me if you'd like more information about the real estate market in Terrace.

Get Your Home Ready to Sell

2010-01-20T11:05:00.000-08:00

Listen up! Spring is coming and along with it comes a busy real estate market. Once the snow has melted it'll be time to get your home ready to sell, hopefully without spending too much.

First impressions count so let's start on the outside. Trim back any overgrown bushes and cut the lawn on the diagonal. (For some reason it looks so much better.) Wash the windows and the outside light fixture. Install a new welcome mat. Replace the house number, mailbox, or any other hardware that needs to be spruced up, get rid of any cobwebs and dirt, and it should go without saying that any debris and clutter laying around outside is disposed of.

That should keep you busy for a few days. By then I'll have a new post telling you what to do on the inside. Once again, hopefully without spending too much. After all isn't selling about make a profit? See you then.

December Home Sales Second Highest on Record

2010-01-12T09:28:00.000-08:00

Vancouver, BC – January 12, 2010. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 132 per cent to 5,703 units in December compared to the same month last year. More homes were sold last month than in any December on record except 1989 when 6,014 units were sold.

“2009 came in like a lamb and went out like a lion,” said Cameron Muir, BCREA Chief Economist. “The year began with home sales trending at a 25-year low and ended at a 20-year high. Low mortgage interest rates, pent-up demand and improving economic conditions were key drivers of consumer demand."
A total of 85,028 residential units were sold through the MLS® in 2009, up 23 per cent from 68,923 units in 2008. The residential sales dollar volume increased 26 per cent to $39.6 billion last year, while the average MLS® residential price increased 2 per cent to $465,725.
"Considerable momentum in the housing market is expected to carry through the first quarter of 2010, before home sales begin to moderate as a result of eroding affordability and less pent-up demand,” added Muir.

Happy New Year!

2010-01-04T15:07:00.000-08:00

When I'm away from my computer, out in the field, driving in the car, I can always think of interesting and even brilliant topics to blog about. Alas, once back at the computer the ideas are still out in the field.

A new year brings resolutions. This year I resolve to put more time and energy into making my website (www.marionolson.com) a more exciting and informative place. New pages, new links, and new information on a continuous basis. (Or is that continual - if you know please let me know).

If one of your resolutions involves buying your first home there's going to be a whole new page just for you. Check it out!

Home Inspections

2009-11-19T13:24:00.000-08:00

I always recommend to my buyers that they make any offer to purchase a home subject to having a successful home inspection. That way they aren't obligated to proceed with the sale if there are defects that aren't visible when they first view the home.

There was recently a news item about a home inspector who was found negligent and ordered to pay damages to a client. The public comments about that news item made me realize that people don't completely understand the relationship between the Realtor and the home inspector. Some people think that the home inspector is working for the Realtor or they are, at a very minimum, in cahoots with each other. Not true. As a Realtor I am not even permitted to recommend one inspector over another. My recommendation is that a buyer interview as many inspectors as they can and pick the one they are most comfortable with. Criteria can include experience, communication style, references, etc.

It's not surprising that home owners will attend to structural or maintenance concerns when their potential sales are collapsing because of failed home inspections, thus improving the condition of real estate in general. Now that's got to be a good thing.

Here's a link to the news item mentioned above. http://tinyurl.com/yfu7zw5

Market Recovering

2009-10-15T09:29:00.000-07:00

Vancouver, BC – October 15, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 68 per cent to 8,576 units in September compared to the same month last year. The average MLS® residential sales price in the province climbed 15 per cent to $474,169 from $412,149 in September 2008.

"Upward momentum in consumer demand continued unabated in September,” said Cameron Muir, BCREA Chief Economist. “Low mortgage interest rates and renewed confidence in real estate assets has propelled BC home sales to a level not seen in two years.” September posted the highest number of BC MLS® residential sales for that month since September 2005, and the third highest ever recorded for the month of September.
"While Victoria and the Lower mainland are exhibiting strong sellers’ market conditions with rising prices, housing markets in the rest of the province are experiencing a more gradual recovery,” added Muir.
Year-to-date, MLS® residential sales dollar volume increased 6 per cent to $29 billion over the same period last year. A total of 63,521 units were sold in the first nine months of 2009, up 6 per cent from 2008, while the average MLS® price declined 1 per cent to $457,389.

End of September Stats

2009-10-03T11:46:00.001-07:00

Well the statistics are out for the month of September. The Real Estate Board is truly great at getting them out on the first of the following month. Well done Board.

It surprised me that there were more sales in September of this year than there were in September of 2008. Those 28 sales totalled approximately $50 more than the 25 last year. The total sales year to date are still millions lower than the year to date last year, but the increase in the number of sales is very encouraging.

Now residential detached sales. The average sale price and median sale price are both down from last year, and number of days to sell year to date is way up.

So what does it all mean? Prices are down but people are buying. We have a huge inventory of listings (more than 220 right now) so sellers have to be competitive in their pricing and presentation to ensure that their listing is one that sells.

Speaking of presentation, Re/Max has come out with a DVD that includes a booklet of check lists to help you make sure you have done as much as you can to have your house in marketing condition. The DVD is called "Fit to Sell". If you're going to list your house with me I want to give you a copy of the DVD and the check-lists so that we both have the best opportunity to shine. Call me today.

Sales up in August

2009-09-11T10:26:00.000-07:00

Vancouver, BC – September 11, 2009. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province climbed 66 per cent to 8,565 units in August compared to the same month last year. The average MLS® residential sales price in the province climbed 12 per cent to $471,078 from $421,685 in August 2008.

Sales in Terrace were up as well. There were 26 sales in the area during the month of August. Compare that to 22 in the month of August 2008. We're still down for the year to date though having 180 in total this year and 224 to this time last year. Our average residential sale price is a bit lower than the Province's at $203,050 (did I say a bit lower?!) and still down from last year to date of $212,388.

Economic news is mixed and it's difficult to know which stories to believe. Time will tell. In the meantime real estate is still a good investment when you combine the historically low financing costs and long term value appreciation.

Market Update - Terrace, B.C.

2009-08-12T13:24:00.000-07:00

I received an email today that reminded me to put the current stats online for all to see. Here we go!

There was an item on the news last night about the hot Vancouver market, multiple offers and rising prices. I am so jealous!

In Terrace in July the number of sales were down 36% over July last year with the value of those sales down 44%. Total listings for the month were the same as last year leading to an imbalance of supply and demand, putting more downward pressure on prices. Days to sell has increased from last year as well. The median price of single family detached homes sold in Terrace this year is $196,500, up from last year at this time of $195,000. Even in down times our market is buoyant. Way to go Terrace!

The news story on Vancouver was reassuring. We usually follow their lead a few months later. Maybe that means our Spring market will be hot with multiple offers and rising prices. Here's hoping!

Buying or Selling?

2009-06-16T14:29:00.000-07:00

Heaven forbid I should promote the competition, but Coldwell Banker has launched a youtube site that has some pretty good information. It's suitable if your thinking of either buying or selling a home. Check it out at: http://www.youtube.com/coldwellbanker

Some of the information is geared to the American market, and some of the information is for Realtors, but there are some videos that just might answer those questions that have been nagging you.

Supply and Demand

2009-06-03T11:01:00.000-07:00

The price of real estate is affected by supply and demand. If there are more buyers than sellers the prices go up as buyers compete with each other. The same happens in reverse. When there are more homes on the market than buyers, sellers will reduce their price to entice the buyers to make an offer on their home rather than the competition's home.

There are markets within markets as well. There's the entry level market of homes priced where first time home buyers can afford. There may be 200 homes on the market but only a small percentage of those are within reach of first time home buyers. There is a steady supply of first time buyers and this creates a perpetual imbalance of buyers to sellers in entry level homes. This explains why there is always a good market for entry level housing.

When interest rates go up the amount a first time buyer can afford goes down. Right now interest rates are at an all time low, allowing more first time buyers into the market. Those sales stimulate the market as homeowners sell their entry level homes and move up. Way to go young people!

If you're thinking of moving up give me a call and I will give you the current market value of your home.

Getting Your Home Out There

2009-05-25T15:07:00.000-07:00

80% of potential buyers start their search on the Internet. There are obvious reasons why. It's quick, easy, can be done from the privacy of your own home anonymously and with no clothes on. No commitment. (Sounds like some old boyfriends.)

There are many house hunting websites where you can search for property in Terrace and the only results that come up will be my listings. That's because my personal website is connected to a network that shares information, resulting in my listings being seen by more potential buyers on a daily basis.

Call me and we'll get your home out there.

Best Time in Past 3 Years to Buy a Home

2009-04-15T09:57:00.001-07:00

April 15, 2009. -- British Columbia Real Estate Association (BCREA) reports residential sales dollar volume on the Multiple Listing Service® (MLS®) in BC declined 35 per cent to $2.3 billion in March, compared to the same month last year. Residential unit sales declined 25 per cent to 5,464 units during the same period. The average MLS® residential price in the province was $424,122 in March, down 12 per cent from March 2008.

“While fewer MLS® residential sales were recorded last month compared to March 2008, home sales actually climbed 24 per cent from February to March on a seasonally adjusted basis, the second consecutive month of gains,” said Cameron Muir, BCREA Chief Economist.
A significant increase in affordability helped fuel housing demand last month. “Reduced mortgage interest rates have effectively doubled the impact of lower home prices on affordability,” added Muir. While the average sales price in BC declined 12 per cent from a year ago, the monthly payment on the average priced home was 24 per cent lower. “Housing is now more affordable than at any time in the last three years,” noted Muir.

Investor Alert

2009-03-24T09:28:00.000-07:00

The March issue of the Western Investor says Terrace should be a B.C. boomtown except the shopping mall has an estimated 30% vacancy rate, real estate prices are falling, and the jobless rate is among the highest in B.C.

If you look at the quick facts there seems to be an enormous potential for investors in Terrace. The population of the city is only 12,000 but Terrace's location at the intersection of highways increasing its trading area population is 70,000. The rental vacancy rate is only 3.7%. There are power line, pipeline and mining proposals under consideration. Looks like a good opportunity to me.

Follow the link below for the full article.
http://www.westerninvestor.com/regional/terracemar09.pdf

Read What you Sign!

2009-03-17T13:46:00.000-07:00

There was a news story this morning about someone getting stuck with a huge penalty for prepaying their mortgage ahead of time in order to take advantage of current low interest rates.

People often sign what's put in front of them without reading it. You hear about tenants signing leases, people signing wills, and certainly borrowers signing mortgages without reading and understanding them. They just trust that the documents say what they want them to say.

If it's a serious matter then it should be treated seriously. Read before you sign, and understand before you sign. Initial all pages so that no new pages can be inserted, and get a copy of it. Ask questions if you have any. The only stupid question is the one that doesn't get asked.

The Good Ones Always Go First

2009-03-12T10:30:00.000-07:00

A rising tide raises all ships and similarly a falling market affects all houses for sale. There are some mls listings that are getting multiple showings. Good showings where the people looking to buy like what they see. It may be that they feel the market is slow so they have lots of time to make their offer.
Just a word of warning though. The good ones go first. If you like what you see then there's a good chance other buyers do too. Even in slow times the race goes to the swiftest. You might not be the only buyer waiting for the right time to make an offer. If you don't make your offer soon you may just miss the boat.

Beautiful Terrace YouTube Video

2009-03-11T16:00:00.000-07:00

First-time Buyers Driving Force in Residential Real Estate Markets

2009-03-11T13:34:00.000-07:00

Entry-level purchasers are now the engine driving home-buying activity in almost every major centre in Canada, according to a recent report released by RE/MAX.
The 2009 RE/MAX First-Time Buyers Report*, highlighting first-time buying activity in 32 residential housing markets across Canada, found that improved affordability is prompting many first-time buyers to get off the fence, out of the rental, and into the market. While a sense of caution still prevails, more and more first-timers are finding it hard to pass up the chance to become homeowners in today’s buyer-centric real estate climate. Increased inventory and longer days on market, coupled with the lowest lending rates ever, are presenting opportunities that have not been seen in almost a decade.
While the current economic crisis has caused some first-time buyers to either take it slowly or apply the brakes, home ownership remains a top priority for those who are able to take advantage of reduced carrying costs, rock bottom interest rates and lower house prices. Affordability has greatly improved and buyers are firmly in the drivers’ seat in just about every market we surveyed. The new reality is that homeownership remains well within reach for most first-time buyers.

The report goes on to say that Canadian markets from coast-to-coast are ripe for a reawakening as the weather warms up. First-time buyers seem more acclimatized to economic factors, even though the barrage of bad news continues to flow. Those who are secure in their jobs, have accumulated good down payments, and have acceptable credit ratings are continuing to venture forward, undeterred by tighter lending criteria.

*RE/MAX of Western Canada (1998) Inc. First Time Buyers Report, issued March 11, 2009

Weather in Terrace, B.C.

2009-03-07T09:49:00.000-08:00

People looking for Real Estate in Terrace ask questions. A frequent one is "What is the weather like in Terrace?" It's a difficult one to answer because, as the saying goes, "If you don't like the weather, wait a minute."

We have a mini greenhouse effect going here, because of all the mountains around our valley, so we're warmer than areas immediately to the east. We generally get less snow than Kitimat to the south and less rain than Prince Rupert to the west. The warmest month is July with an average high of 70 Fahrenheit and average low of 61. January is the coldest month with an average low of 19 and average high of 27. The wettest month is October with 7.9 inches average precipitation. June is the driest month with 1.7 inches average precipitation.

Today is March 9th and it's snowing! If you're looking for a home for sale in Terrace I know you won't believe that this is unusual, but it really is. The average high for March is 41 Fahrenheit.

Report by Area - Year over Year

2009-03-04T14:28:00.000-08:00

The stats are out for the end of February. This year-to-date compared to last year-to-date, houses are taking almost twice as long to sell. That's not really a surprise to those people who are watching the signs on the front lawns. (The ones you can see through the snow that is.) You guys always seem to know what's going on.

Listings are up only a bit from last year at this time (89 compared to 84 last year). Sales are down still (26 compared to 43) but activity is beginning to make the office buzz a bit at times.

Sales price over list price is fairly close to last year. I think that means that most sellers are still listening to their Realtor® relatively closely when it comes to list price. The most important factor in a speedy sale is still the right asking price.

Spring is Coming!

2009-03-02T16:59:00.000-08:00

The hot sheet lands on my desk at the end of the day. Five new listings today. Two price reductions. Zero home sales reported. Everyone is busy showing listings to prospective buyers. Spring is coming!

Mountain Views Everywhere

2009-02-28T13:50:00.000-08:00

It's another lovely sunny day in Terrace. There's warmth in the sunshine and the whole city seems to be gearing up for the parade this evening that will kick off the voting for Terrace as Kraft Hockeyille 2009.

On a sunny day like today it is easy to see why almost every home in the city has a beautiful mountain view. From our own house we can see snow topped mountains on all four sides. I think it was the first time my daughter visited us in our current home she looked around and exclaimed "you live in a postcard!". Here in Terrace most of us do.

Voting for Hockeyville starts tonight. If you get a chance please vote for Terrace. It's a city with a lot of heart and really does deserve to win.

Home Improvements to Increase your Profits

2009-02-25T09:42:00.000-08:00

Even in a falling market you can increase your home's market value by making smart and careful home improvements and upgrades. Consider the following:

Hardwood floors are what buyers want, but are expensive to install. If you have old hardwood floors under your carpet it would be a good investment to remove the carpet and refinish them. If you have 60’s shag carpeting and a plywood sub-floor then replace the carpeting with an updated neutral.

Almost everyone knows a new coat of paint will add buyer appeal, but buyers notice ceilings too when they're looking for leaks in the roof or structural problems. Make sure your ceilings and walls are free from stains and cracks.

Kitchen renos can return most of your investment. However Buyers may not appreciate that you have used expensive materials in your renovation and you may end up losing that extra investment. There are so many new products available that you can beautify your kitchen with new countertops without spending a fortune on marble.

Spring is coming to the Terrace Real Estate Market!

2009-02-19T15:47:00.000-08:00

Spring is typically the hottest real estate market everywhere. Spring fever hits and owners get restless. There is usually more inventory available at this time of year. The listings have already started in Terrace. Over the last five days I count 12 new real estate listings on my Hot Sheets.

Buyers see the tulips bursting from the ground and are glad winter is over. There are no distractions like major holidays to prepare for. Buyers know that the school year will be ending soon and want to be ready to move as soon as school is out. Or they might plan to use spring vacation time to move.

The sellers may be out there already, but the buyers haven't seen the tulips yet. Over those same last five days I counted only 3 sales on my Hot Sheets.

The best new listings sell first. Don’t miss out. Beat other buyers to the hottest new homes for sale in Terrace with my automatic email notification of new listings that match what you’re looking for. Email me and I'll set you up.

B.C. Real Estate Association News Release

2009-02-16T10:45:00.000-08:00

The B.C. Real Estate Association has issued a News Release today, reporting that residential sales dollar volume on the MLS® service in B.C. declined by 61% and residential unit sales fell 51%, putting the average MLS® residential price in the province at $412,934.

“Home sales were sluggish in January, reflecting an overall malaise in consumer confidence and a weakening provincial economy,” said Cameron Muir, BCREA Chief Economist.

“Reports of an increasing number of consumers shopping for a home have yet to materialize in the sales statistics,” added Muir. “The large selection of homes for sale in January likely reduced any sense of urgency for potential homebuyers to commit to a purchase.”

As a Realtor® in Terrace, my personal search of Residential Detached sales in our area last year tells me that of the 230 sales only 4 were in the $400,000 and above range, so while this report might have some similarity to our market it doesn't reflect what's really going on here in Terrace. We must be careful to filter the news we hear through the the distance we are from the big cities. Here's a graph of the value of our single family sales from 2001 to date.

The BCREA news release does go on to say that improving home affordability resulting from lower mortgage rates and home prices is expected to elevate sales activity in the province this spring.

I couldn't agree more.

Wow

2009-02-14T17:43:00.000-08:00

Sometimes the beauty around me just takes my breath away. It happened this morning when the pale morning moon was sinking down in the blue sky over the snow white mountain tops. Wow. I am so lucky to live where the air is clean and the water is pure, and every now and then something happens to remind me. I wish I had taken a photo then. This one is from later in the day. Happy Valentine's Day Terrace!

More Single Women than Single Men Buying Homes

2009-02-12T14:21:00.000-08:00

I’ve read somewhere that more than one in five home buyers is a single woman. I’ve also read that more unmarried women are buying homes than single men.

There are many reasons for a single woman (or man) to want to enter the housing market. One is to take control of their financial security by building equity rather than just paying rent. When rents go up your mortgage payments will stay the same! It also gives you the opportunity to make your own decorating decisions, improvements and renovations.

It’s not all flowers and sunshine though. To buy a home you have to come up with a down payment and commit to mortgage payments, as well as commit the time and money required to maintain your investment. When it’s your very own home there is no one responsible but yourself. That hasn’t been too big a load for the women I’ve helped with their housing needs. They’ve taken on the responsibilities with courage, enthusiasm and determination. It makes me proud to be a woman.

Whether you’re a single, a couple, or a large group, I’d be happy to help you find the right place.

Current Market Conditions in Terrace

2009-02-11T14:42:00.000-08:00

Hi everyone,

I want this to be a useful and informative Blog, so I've got the B.C. Northern Real Estate Board statistics here for the end of January 2009, and I'm going to share.

The market doesn't seem to be down much at all from last year. The average single family home sold in January 2008 for $212,862. In January 2009 it sold for $214,812. Not that big a difference and it's based on very few transactions. (14 last year - 8 this year)

The big difference between 2008 and 2009 on these stats is the Area Total sales. Last year total sales came to $4,920,575. This year they were $1,935,500. Sales volume is way down. There were almost twice as many transactions last year as this year.

It's pretty had to make any kind of claim with only one month of statistics, so the jury's out until the end of February. I'll be back then with more information. In the meantime call me if you have any specific questions. My cell number is (250) 631-3101.

2074 Walnut Drive - $225,000

2009-02-11T11:37:00.001-08:00

2074 Walnut Drive has got to be the first listing to add blog about because it's such a special home!

It's a 4 level split with a generous entrance, hardwood floors in the living and dining rooms, gas fireplace in the large family room where sliding glass doors lead out onto one of the three decks. This is a home for the family who likes to spend time outside in a very private yard. In addition to the three decks there are brick walkways, a patio and even a playhouse.

There are 3 bedrooms upstairs and three bathrooms, one with a jetted tub. Two more bedrooms downstairs, with a playroom between them. Vinyl siding for each maintenance. Lots of trees and privacy in the back yard. The playhouse has dutch doors.

If you'd like more information about this listing or any other home listed for sale in Terrace and area, give me a call on my cell at (250) 631-3101. I'm looking forward to hearing from you.

Welcome to Terrace

2009-02-10T20:36:00.000-08:00

I feel very fortunate to live in Terrace. Next to the Skeena River on a series of natural flat benches, or terraces. (Where the name came from.)

The valley is protected by the majestic Coast Mountains which, combined with its closeness to the ocean, creates a greenhouse effect. This phenomenon means that the community enjoys more moderate temperatures and less rainfall than its coastal neighbours.

The beauty and variety of natural settings around Terrace naturally draw people outdoors. Residents take great pride in their active lifestyles and are eager to share their knowledge of local mountains, rivers, lakes and wildlife with visitors. The official emblem of Terrace is the white Kermode Bear, a rare sub-species of the Black Bear found only on BC's central and north coast.

Terrace is the regional business centre for the area and is located 550 air miles (and many more road miles) northwest of Vancouver. Not only are we surrounded by natural beauty, we can boast relatively affordable housing, a ski hill, cross country ski trails, 18 hole golf course, world-class fishing, nature trails, symphony, theatre groups, a fabulous library, art gallery and Farmers’ Market (in season), all nearby. If you can’t get there in 15 minutes it’s a long way out of town.

The population of the Greater Terrace area is about 17,000. Terrace’s is the hub for highway, rail and air transportation routes in the area and our market population includes many nearby communities.