Victoria Market Watch

Watch For The Warning Signs

Occasionally dramatic events change our lives, but most changes happen almost imperceptibly.  Examples are everywhere we look and they never cease to amaze me. 

Couch potatoes.  We all know some.  They spend as much of their free time lying down watching TV as they can arrange.  Some I know fall asleep watching the boob tube.    Many of these were once extremely active and played every sport they were introduced to, willingly.  How did this transformation happen?  Was it an edict from a celestial source?  I doubt it.  Their behaviour changed  s l o w l y  over time and what once would have been perceived as a despicable approach to life becomes routine.

No more classic an example is when you meet someone, often but not exclusively male, who has an almost normal figure for their age but has built up over the years one huge belly.  Not just a pot belly, a hardware store full.  This person, you are almost certain, was once 17 or 23 and out there raking leaves and likely looking as trim and fit as the rake in their hands.  Cases of glandular malfunction or severe physical trauma do exist, but do not cover most we see.  Was there a point, one wonders, when this person examined themselves in the mirror and noticed an inch of waist that wasn’t there a month earlier?  Has this person developed the knack of ignoring mirrors altogether?  It appears people find mechanisms that allow various aspects of personal depreciation and forget to watch for the warning signs that, compiled over the years, result in a non-requested state of being.

If you drive your car until the oil warning light comes on it has likely already resulted in some damage, but at least with a car there is non-negotiable evidence that change is occurring.  Barring a similar universally adopted medical implant for humans, and with the likely event that evolution in this regard will maintain its dogged pace, I suppose that leaves us all in the awkward position of being responsible for observing our own individual warning signs.  A sign, perhaps, of the times.

September's Market

Real Estate Sales Ease in September
Outlook for Balance of 2011 Remains Stable

October 3, 2011

This month’s report follows the trend we have seen over the last several months.  While prices bump up and down from month to month, overall stability remains the order of the day.

Real estate sales activity softened throughout Greater Victoria last month with a total of 458 homes and other properties selling through the Victoria Real Estate Board’s Multiple Listing Service® (MLS®), down from 542 sales in August. Sales last month were, however, 16 per cent higher than the 395 sales in September of last year. Prices, meantime, remained mixed depending on the property type.

Victoria Real Estate Board President, Dennis Fimrite, noted that the overall market remains stable despite some easing of sales in September. "There has been some softening in activity over the last year with sales so far this year running about 10 per cent below last year’s levels. However, sales during the last two months have been higher than in August and September of last year and we anticipate stable market conditions for the balance of this year." Fimrite noted that despite economic uncertainty, interest rates remain very attractive and this is positive news for buyers. He added that that there were 17 single family home sales of over $1 million in September including one in Saanich East at over $6 million.

Fimrite added that the number of properties available for sale remained virtually unchanged last month with inventory levels currently 14 per cent higher than a year ago. "The number of properties available for sale declined very slightly last month to 4,940 compared to 4,944 at the end of August."

The average price for single-family homes sold in Greater Victoria last month was $622,393, down from $652,841 in August. The median price also declined to $535,000 while the six-month average increased slightly to $622,519. The overall average price for condominiums last month was $332,490, down from $339,057 in August. The average for the last six months increased slightly to $331,209. The median price for condominiums in September also increased to $279,900. The average price of all townhomes sold last month showed little change at $436,039 compared to $437,079 in August. The median price declined to $391,000 while the six month average increased slightly to $447,127.

MLS® sales last month included 244 single family homes, 128 condominiums, 52 townhomes and 12 manufactured homes.

Summary Report and Graphs

Monthly Sales Summary
Average Selling Price Graphs
Active Listings, New Listings and Sales Graphs

Tankless Hot Water ? ? ?

Why Consider a Tankless Hot Water System?

 Water heating accounts for 20-25% of an average household's annual energy expenditures. The yearly operating costs for conventional gas or electric storage tank water heaters average $200 to $800, respectively.  Most tankless models have a life expectancy as long as 15 to 20 years. In contrast, storage tank water heaters last 5 to 15 years. Most tankless models have easily replaceable parts that can extend their life by many years more.  These systems have been common in Japan and Europe for years, but are gaining attention now in North America.  Tankless systems are more expensive to install than traditional tank systems, but substantial B.C. and Federal grants are available and vary from year to year.

 About Tankless Water Heaters

The main advantage of these instantaneous water heaters vs. storage is tank-less design, continuous flow and endless supply, less energy consumption (up to 30-40% when comparing it to tank-type heaters), therefore more savings for you and no worry about running out of hot water during showers.

Comparing tankless water heaters with storage heaters that are heating water even when you are away or not using it, tankless hot water heaters work only when you open the hot tap.

On demand water heaters can use gas or electricity. The size of the instant water heaters you need depends on demand, how big your house is and the family size. Some manufacturers offer a multi-system set-up that can link many heaters into one system, to satisfy demand even for the largest houses.

Majority of these units are whole house tankless hot water heaters, as they have higher GPM flow rate capacity, so they handle demand for more than one application at a time.

How Tankless Water Heaters Work

There are some tankless heaters where heating element is controlled by the flow-sensing device that operates with a constant heat input and maximum flow rate. Flow rate depends on the pressure which can be adjusted on the knob.

If there is a request for maximum flow, the outgoing water toward the hot water tap is cooler since it spends less time passing through the heat exchanger.

Modern tankless models are using the latest technology where the output temperature, flow, safety and other parameters are controlled and regulated by the electronic circuit board.

 When you open the hot water tap a flow sensor in the tankless hot water heater sends the signal to the electronic module. From there signal goes to the gas valve to open the gas flow.

If all the requirements are met, natural gas or propane flows into the burner located inside the combustion chamber. The gas is ignited either by the pilot flame or spark from the electrode.

Burning gas heats the heat exchanger where incoming cold water is quickly heated to the pre set and desired temperature. The heat exchanger transfers the heat from the burner to the water heating instantaneously. A vent pipe vents products of combustion out using the direct vent or powered vent system.

Once the faucet is turned off, the flow stops and flame goes out. As it can be seen from the above explanation tankless water heaters heat the water on demand, while providing you with an endless supply of hot water. You can see them often installed on the wall.

Tankless Water Heaters Reviews by fuel source:

Electric tankless hot water heaters have a compact design, saving you lots of space. They have a long service life as they are less prone to hard water and sediments. You can choose point-of-use or whole-house water heaters. Electric tankless water heaters don't produce greenhouse gases. Top selling brands in North America are Bosch PowerStar, Titan, Stiebel and Eemax.

Gas tankless hot water heaters are environmental friendly appliances also. Many of them utilize advanced technology for energy efficiency, and meet strict emission standards. They can use natural gas or propane - LP. Gas tankless water heaters produce higher flow rates than electric ones.

Tankless hot water heaters can be further divided into two categories; one that can only work as on/off and the other with modulation.

Instantaneous water heaters with modulation, base the heat output on the flow. For example if the demand for hot water is higher, modulating gas valve provides more gas and the final result is more power. 

 

The following video (American—but very succinct) give a clear notion of how the system works.

http://www.youtube.com/watch?v=blMZAdjKD2M&feature=player_