JUROCK’S Facts by Fax
Jurock Publishing Ltd. #200-1311 Howe Street, Vancouver, B.C. V6Z 2P3
Tel: (604) 464-0808/Fax (604) 683-1707/E-Mail: ozzie@jurock.com
World Wide Web: http://www.jurock.com/
Reproduction without permission strictly prohibited
November 6/1996 – November 13/1996

“An economist is someone who knows 100 ways to make love, but doesn’t know
any women” Unknown

A much better October. The Vancouver Real Estate Board reports a sales
increase of 19% over last October but listings are also up by 12% to 18,050
units. Detached home sales (new and resales) were up by 16% (from 1,035 to
1,203). Townhouse sales rose by 18% and  apartment sales by 7% overall.
However more resale apartments (up by 43% from 416 to 597 – all those
bargains without GST!) made it to the lawyer. New apartment sales actually
dropped by 21% from 322 units to 253. The first time buyer still dominates
with apartment sales very brisk on the Westside (sold were 339 units versus
312 last year), but the  upper  price ranges have slowed. (Only 95 homes
were sold on the Westside vs. 120 last year). We are receiving reports of
a strong jump in over 1 million homes listed for sale and we will report on
this next week (we’re checking owners nationality).
Major Point: The average price stands at $274,500, down 4% from last years
$297,900 and down 26% from the $347,000 high reached in  February 1995.
Please note that it is NORMAL for prices to re-adjust downward into
December, but clearly timing in purchasing remains paramount for short-term

Vancouver:      Current  Month (October)

This Year       Last Year               Increase
Units Sold        2,457                   2,063                   19%
Avg. Price      $274,900        287,900                  -4%
Active Listings 18,050          16,100                       12%

Vancouver:      (Year to date)
This Year       Last Year               Increase
Units Sold        22,380                 18,300                        21%
Avg. Price      $297,000        $333,000                -12%
Active Listings n/a             n/a                     n/a

Toronto records a 61% jump in sales (up from 3,344 to 5,398) this October
and a 31% increase over September, making it the best October “in a decade”
according to Toronto Real Estate Board president Jerry England. Total sales
for the year (10 months) are standing at 45,700 – already surpassing the
39,200 sales recorded for ALL of 1995 as well as the total sales recorded
in 1994 ( 44,237). The average price is back up to $200,000 and the active
listings are down 7% to 23,000. We called Toronto a buy a year ago, we
still stand by that. Calgary has seen a 30% jump in sales for the month of
October  (1,485 units this year sold vs. 1,137 last October), the average
price is up by 5% to $131,200 and active listings remain the same as last
year at about 7,000. Obviously these markets have bottomed.

Looking at the numbers for the Northshore over the last 7 years…they are
North Vancouver detached average home prices:

Oct 89  230,000
Oct 90  259,000
Oct 91  259,000
Oct 93  332,000
Oct 94  363,000
Oct 95  372,000
Oct 96  381,000

(Previous high February 1995 – $382,000)
West Vancouver detached average home prices:
Oct 89  420,000
Oct 90  465,000
Oct 91  488,000
Oct 93  602,000
Oct 94  648,000
Oct 95  660,000
Oct 96  736,000
(Previous high March 1996 – $745,000)
(Source: Sussex Realty Group)

Said Fred Brown, ace manager of Sussex Realty Group in West Vancouver:”
Even though only one property sold over 1 million in October, if the
property is priced right, it’ll sell.  We are very active at the lower end,
but overall dollar volume is lower. While fewer homes sell over $700,000
than in the first part of the year, North Van is hot. Let’s face it, some
145 detached homes sold in North Vancouver in October versus 109 a year
ago.”Indeed. However most of the action is at the lower end of the market
and West Vancouver actually saw a decrease in single detached homes sold
from 65 to 58 units.

Well, the real question is: Is your ‘cash arm’ strong? It’s a real deal,
but even at that you have to dig deep, if you want to see the  world’s
highest paid financial consultant – Princeton Economics Martin A. Armstrong
-. He’ll give a 2 day seminar at the Vancouver Renaissance Hotel on
November  16 and 17/1996. Normally, you have to fork over some $2,500 a
seat to for  this 2 day conference, however if you call Rene at High
Performance Events 878-8822 by November 12/1996, 4 PM, you can get a seat
for only $495 (US). Come see him share his amazing money making investment
trading system.  See you there.

A recent CMHC survey states that buyers are turning to the Internet in
droves. A full 31% of those surveyed said that they were planning to access
the Internet for home buying information over the next year with the vast
majority interested in receiving house listings. The speed and growth
remains phenomenal . At www.jurock.com, Jurock’s International Net address,
we have seen a huge increase in traffic. From 10,000 accesses per week in
July 1995 to 105,000 last week. Traffic increases on our ‘Asia Net’ are 40%
ahead of last year and our out-of-town sites are up 38%. Today, on our site
we recommend  our favorite lawyer, accountant, stock broker, futures
broker, real estate firm, Realtor, office leasing specialist, property
manager, financial adviser, speaker,  trainer, surveyor, engineer, mortgage
specialist, appraiser and thousands of properties for sale. We also feature
a fully interactive newsgroup, where you can ask, debate, argue any real
estate or investment related question  to your hearts content. Oh, and you
can download your daily future closing quotes as well. A new world indeed.
Come visit.

The fine publication “Tax Tips” by Peat Marwick Thorne points out that
Canadian property taxes are the highest in the G-7 countries. The average
ratio of property taxes at a percentage of GDP stand at 2.9%, the United
states ratio is 3.4%, Germany is lowest at 1.1% and Canada’s ratio is 4%.

We’re often asked where Ozzie is speaking next, where and with regards to
what. In November Ozzie talks on TV : BCTV Noon News: Nov/6, Nov/13,
Nov/20, Nov/27,  also watch for BCTV Moneytalks with Michael Campbell:
Nov/9, Nov/16, Nov/23, Nov/30, 10 AM; CABLE: Rogers, Nov/ 6, 9 PM.
Speeches: Internet workshops: Nov/13 (last in series), The Phoenix Club,
Georgian Towers Hotel; 7:30 AM Nov/6;  Abbotsford Centennial Arena
(sponsored by Re/Max and the Toronto Dominion Bank) Nov/7, 7PM;  Chilliwack
Rotary Club, Nov/8, 12 noon ; Robson Media Centre (on behalf of Rolfe
Benson) Nov/14, 7 PM; Abbotsford Centennial Arena, (sponsored by Windermere
Realty and the Fraser Valley Credit Union) Nov/21, 9 AM to 12 noon; Annual
Credit Union Conference, Nov/22, 2 – 4 PM; Edmonton, The Westin Inn, Nov
/29, 7 PM.

Subscribers’ Plots of the Week: 1. SURREY, PUB, SPORTSBAR and BEER/WINE
STORE, Price: $1,200,000;
2. CASTLEGAR, legal 5-plex, 1/2 acre, waterfront, Price: $280,000. 3.
Sunshine Coast (Langdale), illness forces sale, three bedroom, double wide,
150’x75′ property ,view, Price: Sacrifice  $158,800 O.B.O.; 4. Kelowna, 1/2
duplex, close to hospital,  beach and downtown. Price: $198,900; 5.
Kelowna, gardeners paradise, large flat lot, 3 bedroom bi-level, studio
suite down. Price: $163,900. 6. Kelowna, 2 family home in a good central
location, unauthorized in-law suite. Price: $155,900; 7. Fraser Valley, 24
unit Townhouse site. Price: $920,000. Offers. Call Liesl or Lin at 464-0808
(All SPOW’s are for you to evaluate, just look interesting to us. No

RESIDENTIAL MORTGAGE  RATES: Mortgage broker Rick Robertson recommends a
new 8 year “US election year” mortgage at 7.14% with a 20% pre-payment
privilege without penalty.

Best rates      6 mos.  1 yr     2 yr    3 yr   4 yr    5 yr    7 yr    10 yr
High Ratio      4.85    4.80     5.35   5.60   6.00     6.40     7.14
Conventional    4.85    4.80     5.10   5.60   6.00       6.40    7.14      7.89

Mortgage rates based on a weekly survey of 65 major financial institutions.
The lowest rate posted  may be conditional  to the borrower meeting certain
requirements/conditions. For Lower Mainland rates try: Nova Financial
Services  (John Ribalkin or Jaeson Robinson direct tel: 251-6682); The
Mortgage Source (Rick Robertson cell: 377-6985/toll-free 1-800-465-6275);
Canada Trust (Brad Currie (604-816-5198).

To subscribe to Jurock’s Facts by Fax ($125 per annum) call
683-1111/464-0808 OR fax 683-1707. While the above information is compiled
from sources believed to be reliable, its accuracy cannot be guaranteed.
Any type of investing carries inherent risks; as such we cannot assume
responsibility for any subscriber’s actions or choice of investment.
Iris Ho
Marketing Director
Suite 200-1311 Howe Street, Vancouver, B.C., Canada V6Z 2P3
(604)683-1111  Email: iris@jurock.comWebsite: http://www.jurock.com/
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