July’s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,070 in July 2018, a 30.1 per cent decrease from the 2,960 sales recorded in July 2017, and a decrease of 14.6 per cent compared to June 2018 when 2,425 homes sold.
Last month’s sales were 29.3 per cent below the 10-year July sales average.
“With fewer buyers active in today’s market, we’re seeing less upward pressure on home prices across the region,” Phil Moore, REBGV president said. “This is most pronounced in the detached home market, but demand in the townhome...
According to the National Fire Protection Association (NFPA), more than 160 people are injured each year in BBQ mishaps. That doesn't sound like a lot considering the thousands of people who flip burgers on their backyard grills each year. But, you certainly don't want to be one of those injured!
The best way to prevent fire and injury is maintenance. Remarkably, few people are even aware that BBQ maintenance is necessary. But, it is.
Every spring, experts say you should clean out the venturi tubes. Those are the little metal pipes that carry propane or natural gas. Pipe cleaners work well, although hardware stores also carry specialized tools for this purpose. The goal is to clean out any built-up dirt and debris. Don't be surprised if you find...
There are many good reasons to put your property on the market. Some examples include a relocation, the kids leaving the nest, the need for something bigger or smaller, and the list goes on and on.
However, there are also some less-than-obvious indicators that it may be time to sell. Consider the following:
1. Your Property is no longer a Good "Fit"
Your home may have been perfect for you when you bought it. But things change. Families grow. Needs evolve. For any number of reasons, your property may no longer be a good fit for you. If that's the case, it makes sense to at least take a look at what's available on the market. Who knows? Your next "perfect" home may be for sale right now — within your price range!
2. The Neighbourhood is Changing...
Setting a realistic price for your home that reflects current market values will help sell your home quickly and for top dollar. When you price your home properly, you increase the chances that the offer you receive will nearly match your asking price, and that there will be competing offers—which may net you even more in the long run.
Your property has the best chance of selling within its first seven weeks on the market. And, studies indicate that the longer a property stays on the market, the less it will ultimately sell for. A property priced 10 % more than its market value is significantly less likely to sell within this window than a property priced close to its actual market value. About...
With home sale activity dipping below long-term historical averages, the supply of homes for sale in Metro Vancouver* reached a three-year high in June.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,425 in June 2018, a 37.7 per cent decline from the 3,893 sales recorded in June 2017, and a 14.4 per cent decrease compared to May 2018 when 2,833 homes sold.
Last month’s sales were 28.7 per cent below the 10-year June sales average.
“Buyers are less active today. This is allowing the supply of homes for sale to accumulate to levels we haven’t seen in the last few years,” Phil Moore, REBGV president said. “Rising interest rates, high prices...
Online shopping is growing by an average of 20 million new shoppers each year. That's a lot of people clicking and buying! You may be one of them. However, there's a cost to online shopping that's all too easy to overlook. Shipping fees. Imagine saving $10 on a luxury cookware set, only to be hit with a $15 delivery charge. Ouch. So how do you avoid those fees? First of all, always check the fine print on the checkout screen. Notice what the shipping cost (if any) will be before you click the final purchase button. Keep in mind that the base shipping fee shown may update — and become higher — once you've typed in your address. Some e-tailers offer free delivery for orders over a certain threshold amount; for example, $50. If there's...
You've probably heard about "home staging". As the name implies, it's all about arranging each room in your home in a way that will make the best impression on buyers. Here's what you need to know about staging if you're thinking of listing your property.
1. Staging can get you a higher price. On average, a fully-staged home tends to sell for 17% more than an unstaged home of the same type in the same local market. Depending on the current market value of your property, doing some staging in your home could put thousands of extra dollars in your pocket, post-sale.
2. It can speed up the sale. A study by the Real Estate Staging Association (RESA) showed that fullystaged homes spend an average of 90% less time on the market. So, if you need to...
You’ve been saving for awhile, weighing your options, looking around casually. Now you’ve finally decided to do it—you’re ready to buy a house. The process of buying a new home can be incredibly exciting, yet stressful, all at once. Where do you start?
It is essential you do your homework before you begin. Learn from the experiences of others, do some research. Of course, with so many details involved, slip-ups are inevitable. But be careful: learning from your mistakes may prove costly. Use the following list of pitfalls as a guide to help you avoid the most common mistakes.
- Searching for houses without getting pre-approved by a lender:
Home buyer demand continues to decline across the Metro Vancouver* housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,833 in May 2018, a 35.1 per cent decrease from the 4,364 sales recorded in May 2017, and a 9.8 per cent increase compared to April 2018 when 2,579 homes sold.
Last month’s sales were 19.3 per cent below the 10-year May sales average.
“With fewer homes selling today compared to recent years, the number of homes available for sale is rising,” Phil Moore, REBGV president said. “The selection of homes for sale in Metro Vancouver has risen to the highest levels we’ve seen in the last two years, yet supply is still...
Carbon Monoxide (CO) is invisible and odourless, so you can't actually "watch out for it". However, you should monitor for it because an excessive build-up of this gas in your home can be deadly.
Fortunately, there are many types of Carbon Monoxide detectors you can purchase — and most are effective and affordable. Some models simply plug into an outlet. (Many also have a battery backup.)
Carbon Monoxide is caused by the incomplete burning of fuel. It can be released by a faulty gas furnace, kerosene heaters, and gas fireplaces. That's why it's a good idea to install detectors in areas close to these fixtures, as well as near bedrooms.
Experts say you should always follow manufacturer's instructions when...