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Wednesday, 13 June 2007 |
Wall Financial Corporation - News Release VANCOUVER, June 12 /CNW/ - Wall Financial Corporation (the "Company") released today its operating results and financial statements for the first quarter ended April 30, 2007 and 2006. The Company recorded net earnings of $4,440,914 or $0.14 per share and earnings before interest, income tax and depreciation and amortization (EBITDA) and non-controlling interest of $12,396,315. Earnings were significantly higher for the three months ended April 30, 2007 due to the sale of properties under development which included condominium unit sales at Ten Ten Howe Street and Yaletown Park (Towers I and II) and lot sales at Eagle Mountain. Hotel revenues for the quarter increased $864,998 or 8% compared to the same quarter in April 2006. << April 30, 2007 April 30, 2006 -------------- -------------- Net earnings per share $0.14 $0.04 Net earnings $4,440,914 $1,319,495 Revenue & Other Income $57,244,239 $15,111,703 Total Assets $379,199,227 $455,976,077 >> The above financial information is expressed in Canadian dollars and is prepared in accordance with Canadian generally accepted accounting principles, using the same accounting policies and methods of application as described in note 2 of the Company's audited consolidated financial statements for the years ended January 31, 2007 and 2006. Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential rental apartments, development and construction of residential housing for resale, and the development and management of hotel properties. The Toronto Stock Exchange does not accept responsibility for the adequacy and accuracy of this release. The Toronto Stock Exchange has neither approved nor disapproved of the contents of this release. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00002080E For further information: Bruno Wall, President, WALL FINANCIAL CORPORATION (TSX:WFC), 3502 - 1088 Burrard Street, Vancouver, British Columbia, V6Z 2R9, (604) 893-7131 |
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Tuesday, 15 May 2007 |
  | Monday » May 14 » 2007 | | | Vancouver market stays strong | | | Gerald Vander Pyl | | For the Calgary Herald |
Saturday, May 12, 2007
The real estate market in the Greater Vancouver area, which kicked into high gear starting in 2002, is showing no signs of weakening anytime soon, according to the latest MLS figures released by the Real Estate Board of Greater Vancouver (REBGV). Total residential sales for April 2007 reached 3,387 units, an increase of 1.3 per cent compared to April 2006, while the benchmark price climbed to $514,492, up 13.3 per cent from a year ago and up 98.4 per cent in the past five years. "So far, the constants our market has experienced over the past five years are holding strong in 2007. We're still in one of the best markets real estate has ever had in Greater Vancouver," says REBGV president Brian Naphtali. "Sales are higher than historical norms and homes are selling very quickly, usually with multiple-offers. Last month, the average days a property spent on market dropped again, down to 39 days, compared to 43 days in March, 49 days in February, and 56 days in January. "There were a couple of surprises in April's market, particularly in attached housing sales throughout Greater Vancouver. Consumers buying townhomes in Richmond and Burnaby are clearly finding great value for their dollar as sales activity in those two cities came within a few units of breaking records," says Naphtali. "We also saw a significant increase in both new listings and active listings inventory." Arlene Butler, manager of RE/MAX Select Properties in Vancouver's West Side, says any suggestion that the market might slow down in 2007 have not come true in her area of the city. "It's a very vibrant and active market with a nice selection of listings, and they're selling quickly. In our office, we are running neck and neck with last year." Butler says any property on the West Side that is priced correctly will usually receive multiple offers and be off the market in a relatively short period of time. She says demand continues to be driven by both move up buyers from within Vancouver along with buyers from other areas of the country, including a growing number from Calgary and Alberta. Butler says with the popularity of condominium living in Vancouver, people from around the world are buying property to hold for investment purposes or as a second home or vacation property. The maintenance-free aspect of a condominium means they can use it for several months of the year, and then just lock it and leave. © The Calgary Herald 2007 |
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Sunday, 29 April 2007 |
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Housing market gears up for busy spring cycle Vancouver, B.C. April 3, 2007 -The Real Estate Board of Greater Vancouver (REBGV) reports that total residential sales for detached, attached and apartment properties reached 3,582 units in March 2007, a decrease of 11.2 per cent when compared to the 4,033 units sold in March 2006 and a decrease of 9.0 per cent when compared to the 3,938 sales in March 2005. New listings for detached, attached and apartment properties decreased by 5.4 per cent to 5,456 units compared to the 5,767 units listed in March 2006. The total number of active listings increased by 19.5 per cent to 10,356 units when compared to March 2006's 8,664 units. "Last month we saw a relatively fast turnaround on the majority of properties listed on the MLS® system. The average days on market dropped to 43 days in March 2007, compared to 49 days in February 2007," says REBGV president Brian Naphtali. "Consumer demand for property in the Greater Vancouver area is still very, very high and the market is heating up as a result. "With year-over-year double-digit price increases pushing the average price for a single-family home to near record levels, sellers are continuing to get excellent value for their homes throughout Greater Vancouver. Despite these price increases, buyers are still not shying away from this market either," says Naphtali. "New listings are still very tight, but the increase in total listing inventory is opening new opportunity for people to make that long awaited move to their new home." According to Multiple Listings Service® (MLS®) data, sales of apartment properties decreased by 13.9 per cent to 1,532 sales in March 2007 compared to 1,779 sales in March 2006. The benchmark price of an apartment property in Greater Vancouver, calculated by the MLSLink® Housing Price Index, is $349,373, up 14.5 per cent from one year ago. Sales of attached properties decreased by 10.8 per cent in March 2007 to 651 sales, compared to 730 sales in March 2006. The benchmark price of an attached unit is $428,299, up 13.9 per cent from a year ago. Sales of detached properties decreased by 8.2 per cent in March 2007 to 1,399 sales, compared to 1,524 sales in March 2006. The benchmark price of a detached unit is $682,173, up 11.8 per cent from last year. "To get a better picture of what's happening in your community, consult your local REALTOR®," suggests Naphtali. Bright spots in Greater Vancouver in March 2007 compared to March 2006: | Detached: | | Delta South | up 8.9% (61 units sold, up from 56) |
| Attached: | | Vancouver East | up 19.1% (56 units sold, up from 47) | | Burnaby | up 8.2% (106 units sold, up from 98) |
| Apartments: | | Burnaby | up 9.6% (194 units sold, up from 177) | | Port Coquitlam | up 13.6% (50 units sold, up from 44) | | Port Moody/Belcarra | up 26.7% (38 units sold, up from 30) | | Squamish | up 150% (20 units sold, up from 8) |
The Real Estate industry is a key economic driver in British Columbia. In 2006, dollar volume sales of homes in Greater Vancouver set a new record at more than $18.2 billion. Based on this figure, Greater Vancouver home sales in 2006 generated over $922 million in spin-offs. The Real Estate Board of Greater Vancouver is an association representing more than 8,900 REALTORS® The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics, and buying or selling a home, contact a local REALTOR® or visit www.realtylink.org. |
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