KRISTY JUST

By IAN BAILEY AND SARAH MACWHIRTER - Globe & Mail

Pamela Anderson, who found global stardom for her role as lifeguard C.J. Parker in TV’s Baywatch, is taking

another shot at development in her hometown of Ladysmith.

Ms. Anderson, also prominent in the animal-rights movement, told The Globe and Mail she is hoping to break

ground on a small “eco property” in Ladysmith, where she tried to develop a condominium-townhouse project in

2008.

“I hope to break ground really soon,” she said during a cocktail party before a sold-out $500-a-plate dinner and

private concert for the David Foster Foundation last week.

However, Ms. Anderson did not provide any further details on the project in Ladysmith, located between Nanaimo

and Duncan. She noted that she had started a sustainable design firm.

Ms. Anderson said she does not know how much longer she wants to stay in “the business” of entertainment, but

that she will do a few films for Canadian friends.

Ms. Anderson follows the pattern of other B.C. entertainment celebrities who got into real estate. Michael Bublé

and Jason Priestley are among those who have backed such projects in recent years.

This is a second shot at a development in the Ladysmith area for Ms. Anderson. In 2008, she teamed up with a

friend, former NHL player Geoff Courtnall, to plan an 83-unit development on family property.

The project called for 72 condominiums in three separate buildings and three other buildings with 11

townhouses. There would also have been moorage for 16 to 18 boats.

Mr. Courtnall has said Ms. Anderson backed out after the market slowed down. In April, 2011, he told The Globe

and Mail he hoped the timing would be right eventually for another such effort.

Bill Drysdale, a city councillor in Ladysmith, said on Wednesday that he expected any proposal from Ms. Anderson

would get a fair hearing before council whenever it was submitted.

“They will come in with their proposal and we will have a look. I am pretty sure we will look at it positively,” Mr.

Drysdale said.

Mr. Drysdale said Ladysmith is well aware of Ms. Anderson’s links to their community of about 7,000. “We have a

picture of her in our new museum on First Avenue to highlight that she is a daughter of Ladysmith,” he said.

He recalled that Ms. Anderson and Mr. Courtnall were diligent about modifying their earlier proposal to

accommodate concerns by Ladysmith residents. Council eventually backed the project.

It isn’t clear whether Ms. Anderson is aiming to develop her new project on the same property.

By Mark Weisleder | Moneyville

One common question asked by landlords are the rules that surround the sale of their property and tenants. The

main question is “Can I evict the tenant before I sell, so that I can fix it up?” The short answer is no.

If you want to sell a rental property, the first issue is does the tenant have a lease? Let’s say there is a lease and

the tenant has eight months remaining. They cannot be evicted before the end of their lease, just because you

want to sell. You can sell, but the buyer must agree to let the tenant stay. In addition, if the tenant has the right to

renew their lease, then you and any buyer will have to honour that as well.

If the tenant is on a monthly tenancy the only way to evict them is if the buyer is moving into the house on closing.

Therefore, you must sign an agreement with a buyer before you can start the eviction process. Then you must give

the tenant at least 60 days notice before the end of a month, assuming the tenant pays on the first of the month. 

For example, you sign an agreement with a buyer on June 15. On June 16, the owner can serve the tenant with a

60 day notice to terminate, that cannot take effect before Aug. 31. The closing date in your agreement should be

scheduled for Sept. 30 to make sure the tenant has vacated.

If there are concerns the tenant will not leave, a hearing should be scheduled before the landlord and tenant board

as soon as possible so that an order for eviction can be obtained, if necessary. Tenants are often suspicious that

the buyer will not move in, and will merely find a new tenant who will pay more rent. If a seller or buyer is caught

tricking the tenant into leaving early, then the penalty can be as high as $25,000.

There are also rules relating to showings and open houses. A tenant must be given 24 hours written notice before

an owner can show the property to a potential buyer. The time period must occur between 8 am to 8 pm. The

tenant does not have to leave the home. However, if the tenant agrees to a different time, or a shorter notice

period, that is OK. In my opinion, an open house that typically lasts two or more hours would not be permitted

unless the tenant agrees to it.

If you want to evict the tenant before you put the house up for sale, the only way is to reach an agreement with the

tenant to leave early. You may be able to accomplish this by assisting the tenant in finding another place to live

and paying part or all of the moving costs. By doing this, you will have the opportunity to then fix your home up

before putting it up for sale, thus potentially attracting more buyers. You will also not have to worry about notices or

eviction notices.

In all cases, it is best to inform the tenant in advance of your plans to sell the home. When you work with the

tenant, then you should have no problems with showings and then closing your home sale.

Buyers, if you are assuming any tenant and you are thinking of moving in later, make sure you find out all of the

details of any lease in advance, as you will have to honour it as well.

When all parties are properly prepared and informed, selling properties with tenants becomes a less stressful

process for buyers, sellers and tenants.

By Stephanie Holmes-Winton, personal finance expert

You gotta love a girl who grew up as one of the richest kids in the world (in one of the richest homes in the world –

a 57,000 sq ft mansion, known as “The Manor,” that went on the market for $150 million in 2009), yet refused to

bank on her parents’ money. Indeed, when her father - television mogul Aaron Spelling - passed away, she

reportedly got less than $1 million of his $500 million estate.

So it’s even more refreshing that Tori Spelling and husband Dean McDermott continued to surprise a lot of people

when they put their “mini-mansion” in Encino up for sale and moved into a much smaller home in Malibu. What

was Tori’s reasoning behind this decision? Given the costly Malibu real estate market, the new home has been

reported to cost about as much as the sale price of the former home, so it can’t be money; but it is remarkably

smaller (around 2,300 square feet). Indeed, Tori and Dean reportedly wanted a cozier home so their growing

brood wasn’t stretched over so much space. They wanted to make sure that as a family of five, they were together

most of the time when at home. They also wanted to have more animals, thanks to the new nearly 2-acre property

(have you seen the mini farm they had hidden in the backyard of their old place?), so their children would grow up

learning to care for other living things. How awesome is that?

Most of us have heard of downsizing once the kids fly the coop so we don’t end up rattling around a big old empty

house. But what about early life downsizing? What about seizing the opportunity to look at what you really want

from your life now? You might just find that for you too, less house could equal more of the life you want.

What could you do with less house?

Less to dust is just the beginning of the possible upside to downsizing much earlier in life. A smaller pad can

happen for all kinds of different reasons, the most important of which should be that it helps you to fulfill your true

desires in life.

Think about it…

• What freedoms could you experience from less house?

• What family time could you recapture?

• What money could you save for fulfilling life goals and experiences?

With that in mind, let’s start by exploring some financial benefits to downsizing:

• Less to clean. Whether you are a DIY duster or have a cleaning lady, time and money can be saved when 

  there is less space to clean.

• Shrink your mortgage. If downsizing results in the purchase of a less expensive home, you can shave years 

  off your repayment clock and save thousands in interest on dollars you no longer have to borrow.

• Less to heat. If you are strategic about it, you may be able to find a home that not only has less space to 

  heat, but also one with the most efficient type of heating.

• Lower property taxes. Generally, if you purchase a less expensive home, you could save some serious 

  dough on municipal taxes.

And what about the lifestyle benefits?

• Location, location, location. Downsizing may mean you can afford a home in a more convenient location to 

  reduce your commute. Perhaps you can move somewhere that allows you to walk to the grocery store or use 

  the subway.

• Purge. Too many of us are drowning in stuff. There are way too many TV shows about money being spent on 

  storage lockers filled to the brim with stuff – and then abandoned for other people to bid on. How crazy does 

  that sound when you really think about it? Indeed, how freeing would it be to rid yourself of things you don’t 

  need; you may not even realize what’s bogging you down until you just let go.

• Life lesson. Let’s be frank, kids don’t model the things you say, they copy what you do. Consciously opting for 

  less space can teach your kids a valuable lesson about what’s really important in life.

• Together time. Think about time at the cottage vs. time at home. A smaller space means that the family just 

  can’t get quite so spread out. By the very nature of the space, you end up together more.

Smaller doesn’t mean cheaper

Be careful. Even if you decide to downsize, it doesn’t mean you’ll automatically spend less. It’s easy to rationalize 

renovating a smaller space and get carried away fixing up your smaller abode to run more efficiently (cool

containers, shelves, and closet organizers really add up). And don’t forget to factor in moving costs, including real

estate fees, land transfer tax, furnishings that may need to be given away or sold (and replaced with more

compact alternatives), among other often unexpected expenses.

Instead of jumping right in, take the time to live in the smaller space so you can make strategic purchases. Set a

monthly limit on how much you will spend each month getting your new place sorted out. Don’t assume the rooms

or closets must be used for the same purposes as the last homeowner. A smaller kitchen may come without a

pantry, but a conveniently located coat closet may make a great alternative that you can convert with some

inexpensive shelving.

Where life meets money, true planning begins

Taking your family down a couple of hundred, or a couple of thousand, square feet isn’t for everyone. But it is a

great option that far too many of us leave off our list of possibilities until our golden years. We can all live our own

definition of success, and it doesn’t have to include a large home.

It comes down to asking yourself what you really and truly want from your life. If downsizing could help you achieve

that, do your homework, make a plan – and start thinking small!

By: The HGTV.ca

Buying a vacation home can be very rewarding, both personally and financially, but it’s certainly a big decision!

Before making any sudden moves, take the time to engage in some thorough research, organize your finances

and choose a trustworthy professional. For more leisure property buying tips, read on:

1. Do Your Homework: The very first step to finding the ideal vacation home isn’t particularly glamorous. You’ve got to do your research! This means reading the classifieds, searching the internet and looking at maps. Jot down ideas and information in a notebook or computer file and save these for future reference.
   
   
2. Go for a Drive: Continue the initial groundwork by going for an exploratory drive and identifying the towns, counties or regions that feel right for you. How far are you willing to drive? What kind of amenities do you want to have close at hand? What locations truly appeal to you? You don’t need to make any major decisions at this point, but should begin organizing your search criteria.
   
   
3. Be Realistic: Ask yourself a few tough questions, such as:
   • How often you will be using the property?
   • Should you buy or lease?
   • How will you finance your purchase or lease?
   • Can you afford the mortgage, property taxes and upkeep of a second property?
   • Do you see this purchase as an investment or simply as a summer home?
4. Narrow it Down: If you were able to get past number 2, then you’re well on your way to becoming a vacation property owner! Now it’s time to think about location, property and structure type. According to Terry Bryan, a real estate agent in the Rideau Lakes area of Eastern Ontario (thecottageguy.com), it’s important to look for a place that is fairly close to a few conveniences, such as a small town and/or grocery store – unless you really like roughing it! You should also clearly set priorities. “For example, establish whether you’re looking for privacy, which means trees and weeds on a waterfront would be okay, or if a clean shoreline, with less privacy is more important,” says Bryan. 
   
   
5. Rent to Own: Once you decide on a location, you may want to consider renting a cottage in the area of your choice to get a true sense of its amenities and ambiance. This is not a must-do, especially if you’re in a rush to purchase, but can certainly make coming to an informed decision much easier.
   
   
6. Find an Agent: You’ve established your main guidelines and requirements. Now it’s time to find someone who can help make this dream a reality. “You should find a local agent,” says Bryan. “The best thing to do is visit the place where you are wanting to by a property. Almost every local office has listings and information posted in their window, and you can go from there.” Local agents tend to have thorough knowledge of specific areas, and can easily help you sift through the merits of various properties. They will also likely be available to you when you want to go view a property, which means no waiting or rescheduling. 
   
   
7. Choose to Invest in the Future: Are you looking at your vacation home from an investment or purely a recreational perspective? It will benefit you in the long run to make a concerted effort to understand the profit potential of this venture. As you search for your second home or property, keep resale value in mind. Try to get an idea of the future of the area you may be buying in, and make sure your purchase possesses as many distinctive features as possible. 
   
   
8. Establish Price Point and Timelines: Work with your agent to establish your price point, and the timeline during which you are hoping to purchase your vacation home. Be honest with yourself about how much you can afford. If a turn-key cottage with a gorgeous boat house is attracting you, but the price seems a bit steep, think about a ‘fixer-upper’. If you’re patient, you can do the work yourself, over time. Also, if the prospect of waterfront taxes is getting you down, consider purchasing a property with shared water access, which will cut costs dramatically.
   
   
9. Identify and Clear Up Accessibility Issues: You need to be fully aware of what you’re buying, says Bryan. “Make sure you can get access to a survey, so you know that you have complete access to the land, and don’t have to cross someone else’s property to get to it. Ask a local lawyer to check out the survey for you. ” You should also find out if the main road leading to the property is maintained year round. If it isn’t, you likely won’t have access to your property for a great deal of the winter and early spring. Island properties can also pose barriers in terms of access, so take all variables into account.
   
   
10. Go For It! The time has come to make your move. Work closely with your agent to draw up an offer that protects you and your investment. Secure financing, get a lawyer to review the documents and prepare to become the proud owner of a second property!

Imagine what life would be like if one of your biggest expenses was eliminated. Here’s how to make it happen...

By goldengirlfinance.ca

If you own a home, it's likely that you're still dragging the old ball-and-chain. No not that one - we're talking about

your mortgage. For many homeowners, 10, 20 or even 30 years down the road seems like an impossibly long

commitment, which often means we slog along, and forget all about what it would be like to be mortgage-free.

And who can blame you?  Assuming you have the average Canadian mortgage of about $280,000 at a 3.2 percent

interest rate amortized over 25 years, if you make the monthly payments, you'll likely be receiving a senior's

discount long before you pay off your home. So how can you pay down your mortgage faster? Here are some

simple steps to help you break free... 

1) Pay more often

There are many options for making your mortgage payments, but the more frequently you pay, the better. That's

because your mortgage accrues interest each and every day. The shorter the space between payments, the less

interest adds up. If you take the standard monthly payments on your $280,000 mortgage, it'll take you the full 25

years to pay it off, and you'll pay more than $126,000 in interest. Paying bi-weekly or weekly will help, but the

savings will be minimal because this only involves dividing your monthly payment to make 24 or 48 smaller

payments per year, rather than the standard 12.

It's with accelerated weekly and bi-weekly payments that things get interesting. That's because with an

accelerated bi-weekly mortgage, you'll make 26 payments in a year, and 52 payments for the accelerated weekly.

This is a way to sneak in a few additional payments over a standard monthly mortgage. In our example, the bi-

weekly accelerated option would shave two years off the time it takes to pay off your mortgage compared to a

standard monthly payment, and reduce your interest expense by $17,000. The weekly payments shave off even

more. The best part is, each payment will be smaller and easier to budget; you won't even miss the little bit more

you pay each year.

2) Make lump sum payments

When you get a tax return, an unexpected bonus or some other joyful cash injection, consider putting it on your

mortgage. Adding just $1,000 extra to your mortgage per year will allow you to pay it off four years sooner and,

combined with accelerated bi-weekly payments, chip another $8,000 off the interest you pay for your home. When

extra cash tempts you to spend, just think about how much disposable income you'll have when your mortgage

disappears. Then put it on the house instead.

3) Increase the payment amount

Another way to ditch that mortgage pronto is to increase the amount of each payment. This can be a good strategy

to apply as your income increases over time. Let's say you score a raise of $250 per month. Lucky you! Put that on

your mortgage and you'll really be leading a charmed life. You'll be mortgage-free seven years ahead of schedule,

and will shave a whopping $24,000 off your mortgage (assuming you're still making accelerated bi-weekly

payments). If you continue to apply your raises to your mortgage over time, the effect will be even more significant.

You might even own your home before your kids hit college!

4) A lower interest rate

These days, mortgage rates are near all-time lows, but it doesn't hurt to negotiate a better rate no matter how low

they are. Is there anything less satisfying than paying interest? We thought not. The difference between a 2.99

percent rate and a 3.2 percent rate adds up to about $6,000 in interest over the course of the mortgage. So

whether you're signing up for a first mortgage or renewing an existing one, shop around for the lowest rate you

can get. Over the long run, those efforts really pay off.  Hey, why pay more than you have to?

5) Make your mortgage tax-deductible

In the U.S., mortgage interest is tax-deductible. Unfortunately (or perhaps fortunately, considering the trouble the

U.S. mortgage market's been facing), the Canadian government just isn't that generous. That said, there are still

some ways to make your mortgage tax deductible. This involves borrowing against it to purchase income-

producing investments. Under the Canadian tax code, interest paid on money borrowed to earn income is tax

deductible. This strategy can help homeowners become mortgage-free faster, but it isn't a sure bet. Borrowing

against your home can be risky, especially because your investments may not yield expected returns. With that in

mind, should you go with this option, find a financial advisor who can help you make it work to your advantage.

Think of the freedom

A mortgage isn't forever and (surprise) it doesn't even have to feel like it is. Give your debt a little extra care and

attention and you can be free of it years faster than you'd even dared to hope. What you do next - with all that

money! - is entirely up to you.

BY JULIA JOHNSON, FINANCIAL POST

Canada’s economy is gradually recovering and is expected to grow by 2.25 % this year and 2.5 % in 2013,

according to a new report by the Organization for Economic Co-operation and Development.

Private consumption and investment will continue to be the primary drivers of growth in Canada, the report, said

which was published Tuesday.

Canada’s growth will slightly outpace the OECD average, which is expected to be 1.6% in 2012 and 2.2%.

Dow Jones reported that OECD economist Peter Jarrett said the improved Canadian outlook “more than offsets

persistent weakness in European export markets and the resulting uncertainty through the rest of the OECD and

the world economy.”

Jarrett described the housing market as the “biggest story in Canada.” Home prices, which corrected about 10%

during the recesion, have surged again, “making household balance sheets look increasingly fragile, he said.

Jarrett said macroprudential measures will probably be enough to cool markets in some cities but are “almost

certainly, we feel, not enough in places like Toronto and probably not enough, therefore, in the aggregate level.”

He said the government is right to be worried and predicted that the central bank will also have to act because

negative real short-term rates risk are stoking a housing bubble.

The OECD is calling on the Bank of Canada to raise interest rates by 25 base points this fall, followed by similar

increases in each quarter next year, according to Dow Jones. The organization called Canada’s current monetary

stance “appropriate” in light of downside economic risks related to raising interest rates.

The benchmark interest rate in Canada has been 1% since September 2010.

The OECD flagged Canada’s housing sector as imbalanced, but noted stiffer lending rules surrounding

mortgages have helped reduce risk. The report comes on the heels of a Fitch Rating report released Monday that

called Canada’s fast-climbing housing prices and record household debt levels unsustainable.

Overall the global economy is slowing recovering, the OECD said, but at substantially different rates.

The eurozone crisis is dragging down the overall economic recovery.

“The crisis in the eurozone remains the single biggest downside risk facing the global outlook,” said OECD chief

economist Pier Carlo Padoan in a statement.

Heading into a European Union summit in Brussels this week, the OECD urged leaders to take immediate action

to avoid a deepening of the crisis in the euro zone and spillover effects to other nations.

By Steve Bucci | Bankrate.com

Dear Debt Adviser,

I am a first-time homeowner and just received a $5,000 tax refund. Is there a way to use it to lower my mortgage

payment (not the length of time I pay)?

-- Marci

Dear Marci,

As a first-time homeowner, I'll forgive you for getting a $5,000 tax refund. Many people don't realize the great tax

advantages of owning a home until after they purchase one. A rent payment of $1,500 a month is much more

expensive than a mortgage payment of $1,500 because almost all of the mortgage payment is deductible from

your taxable income, thanks to the mortgage interest deduction. The result for you is a sizable windfall.

You do have a few options to lower your mortgage payment: one short-term, one medium-term and one long-term.

Let's start with the short-term solution.

You could place your $5,000 tax refund into a savings account, and withdraw a portion of it each month to help with

your mortgage payment. For example, if you wanted to have a slightly lower payment for the next five years, you

could withdraw $83 each month from your savings of $5,000. So if your mortgage payment is currently $1,500, you

would need to use only $1,417 of your income to make the payment. Your savings would make up the rest. (You

could drastically reduce your mortgage payment by $416 per month, but your $5,000 in savings would be gone in

only one year.)

The long-term approach to lower your mortgage payment is to research refinancing opportunities. Contact your

current lender and a couple of competing lenders, and find out what terms you would qualify for in a refinance of

your mortgage. Be sure to do all your loan shopping within a 30-day period so the credit inquiries will count as just

one, for credit-scoring purposes. Once you know what terms you can expect, use Bankrate's calculator to

determine if refinancing will meet your goal of lowering your mortgage payment.

A medium-term option is to adjust your withholding so your annual tax refund is smaller -- only $500 or so, instead

of $5,000. Ask your human resources department at work to increase your personal allowances so that about

$3,500 less is taken out over the course of the year. You'll then have an additional $300 or so each month after

taxes that you can use to further lower your mortgage payment.

If you are trying to lower your payments because they are too high for you to comfortably afford, and you may be in

danger of missing a mortgage payment because you don't have enough income to consistently pay what you owe

each month, seek help now. The nonprofit Homeownership Preservation Foundation operates the Homeowner's

Hope Hotline at (888) 995-HOPE, which can put you in touch with a housing counselor. The counselor will help

you decide how to best solve a mortgage payment problem and avoid home foreclosure.

By Brian Morton, Vancouver Sun

Bob Rennie, who spoke to a full house about the state of the Vancouver property market, said aging baby

boomers with billions of dollars in equity will become a much greater force in the condo market as they

increasingly downsize from expensive single-detached homes, and put money aside for their children.

Bubble? What bubble?

That’s Vancouver condo marketing guru Bob Rennie’s take on concerns that the region’s real estate market is

headed for a meltdown because of sky-high prices.

“It’s not a bubble,” said Rennie, director of Rennie Marketing Systems, in an interview following his keynote

address to the Urban Development Institute Thursday.

“With the 80 per cent of the [condo] market that traded in [Metro] Vancouver last year, you only needed a household

income of $52,800 to purchase. That’s not a bubble story.”

Rennie, who spoke to a full house about the state of the Vancouver property market, said aging baby boomers

with billions of dollars in equity will become a much greater force in the condo market as they increasingly

downsize from expensive single-detached homes, and put money aside for their children.

He also noted that the number of people between 55 and 64 will increase 38 per cent between 2009 and 2018,

those between 65 and 74 will increase 56 per cent, while those between 35 and 54 will only increase by 4.6 per

cent.

Because of that, he said, developers should shift their thinking into providing more larger one-bedroom condos to

accommodate the downsizing boomers.

“I believe the leaner, meaner baby boomer is the game changer,” said Rennie. “Baby boomers are sitting on $88

billion in equity in Greater Vancouver and they’re looking at their retirement years. That equity will be freed up over

the next 15 years [and] when they sell their home, they’ll buy down and help their kids.”

Rennie said there were about 19,000 condo sales in Metro Vancouver in 2011, and that while the average price for

80 per cent of those condos was $315,000, the overall average price was $427,000, which required an income of

$66,000 to finance.

Rennie noted that proximity to transit is paramount for today’s homebuyer.

“In the ’70s and ’80s it was location, location, location. In the ’90s through mid-’2000s, it was timing, timing,

timing. And from here forward, it’s transit, transit, transit.”

He also said that planning should be conducted more on a regional basis in order to make homes more

affordable.

Meanwhile, Tsur Somerville, director, centre for urban economics and real estate, Sauder School of Business at

the University of B.C., said he also doesn’t believe there’s a real estate bubble in Metro Vancouver, largely

because there’s not an explosion in housing starts – typical for real estate bubbles.

Somerville said that while the affordability numbers have been skewed by the higher end parts of the market –

“there were double-digit increases in Richmond, Vancouver, Burnaby and West Vancouver, with single-digit

increases everywhere else” — the region is still very expensive compared to other cities in Canada.

“Compared to other cities, that income [$52,800] gets you a house. Here, it gets you a condo. That means we’re

expensive, but that’s the reality of what we are.

“It’s still an expensive place to live, but it’s not unaffordable. You’ll end up smaller and further away from the core.”

bmorton@vancouversun.com

© Copyright (c) The Vancouver Sun

The Bank of Montreal says the drop should continue for a couple of years

VANCOUVER (NEWS1130) - Home prices will fall over the next couple of years in Vancouver according a report from

the Bank of Montreal.

Year-over-year home re-sales are down by more than 13 per cent in April and sales in the first four months of this

year compared to last year are down 20 per cent.

"I can best describe it as a softening of a market," says BMO Mortgage Expert Carolyn Heaney.  "In the last couple of

quarters we've seen prices in Vancouver escalate to almost 163 per cent of what they originally were, so I would say

we had a bit of an inflated market.  What we're seeing now is those prices are softening and it's a healthier market."

BMO Senior Economist Sal Guatieri says the price of homes in Vancouver and uncertainty over long-term mortgage

rates are creating a buyer's market.

He also says rich foreign investors who have driven up real-estate prices in Vancouver are now looking at cities that

are less expensive.

"The sizzle is coming off the Vancouver housing market," Guateri says.

"I think it's a good opportunity for buyers to take their time and look at the market," Heaney says.  "It's also a great

opportunity for purchasers to get in to their banks, see what they can afford and maybe look into longer term rates."

The report also says condos are being overbuilt in Vancouver and that is curbing demand.

Professional, single women are a growing force in the local real-estate market, and they know what they want

By Gail Johnson - The Georgia Straight

Inexpensive home pick-me-ups to give your place a whole new feel

By Tiffany Mealia - She’s So Savvy.

Feeling like it’s time to freshen up that fabulous place of yours, but don’t know where to start? Have you looked

through the design magazines, cleaned up your drool, and thought - I will never be able to afford any of that!

That may be true, but design doesn’t need to mean decadently priced. Might we suggest a few small and

inexpensive pick-me-ups which can be done for next to nothing and will give your place a whole new feel?

Consider the options…

1. Throw pillows: These can be found at any department store or discount home store. Often found on sale, 

   throw pillows are a great way to put some colour into a space without committing too much to any one 

   design.

    

2. Bringing outside items…inside: Think pinecones and fallen branches in the winter; sturdy greens and 

   pussy willows in the summer. Grab a pile of any one of these items and toss them in a glass jar or vase 

   (go for that scattered, vintage look). If you feel like getting crafty, head to a craft store and pick up some 

   iridescent glitter. Sprinkle that over your items and voila - something that looks like it came straight from 

   the gift section of your local boutique.

    

3. Paint: If you do it yourself, this can be one of the cheapest ways to create a drastic change in your home. 

   For big impact, grab a gallon of paint and go at your walls! Or try painting just an accent wall; a gallon of 

   paint is likely all you need.

    

4. Candles: We associate most memories with scents, so if your place smells warm and cozy, it will likely be 

   reflective of wonderfully warm memories. Find a scent you like, light the candle and relax

    

5. Create a scene: Group books of similar colours, seashells, rocks . Put them in a decorative bowl, stand a 

   framed photo as the backdrop, and drape a throw over a nearby chair or bench. It’s about creating a 

   tableau (think, artful clutter).

    

6. Rearrange your furniture: This one doesn’t cost a dime! Designers are known for switching up their 

   furniture - from room to room, or just rearranging the same pieces in a different configuration - to keep 

   their home and their inspiration fresh. See if it can work for you too.