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Now that fall is upon us, I’d like to take a look back at how our Central Vancouver real estate market fared over the month of September.

To start off, the detached housing market had a 14% sales-to-actives ratio. This is about 1% less than last month.

The reason this market hasn’t seen any increase in prices or activity is that total listing inventory has increased 36% since August. These factors are a strong indicator that we’re in a buyer’s market.

Let’s turn our attention to the condominium market. In that market, there was a 59% sales-to-actives ratio. This is about 11% less than last month.

“The condo market is still red hot.”

The condo market is still red hot. Inventory is about 29% lower than last year and there are a lot of multiple offer situations taking place.

With all of this being said, I’m starting to notice my clients looking to sell their condos and buy detached homes instead.

Condo prices can only rise so much and the detached housing market is experiencing a temporary slowdown, so this is a great strategy.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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The market can be a highly competitive place. Today, I’ve got five tips that will help you win a bidding war.

  1. Do your homework. Do you know if the seller has already bought a new home? If they haven’t, you could boost your chances by offering to let them close quickly and rent back the property from you until they find a new home. However, if they have already bought a home you can still get ahead by offering to match their closing date.
  2. Write a clean offer without subjects. Get your financing and inspection approved before writing an offer. Submitting a subject-free offer puts you in a better position than those who have submitted offers with subject conditions.
  3. Present the offer in person and quickly sign counteroffers. Face-to-face interactions are always better than those done via email or the phone. Since most offers aren’t carried out this way, your interaction with the seller is going to stand out.
  4. Provide a deposit check with your offer. The deposit check will demonstrate your offer’s financial strength. Deposits for amounts greater than 5% will also help your offer go the extra mile.
  5. Appeal to the seller’s emotional side. If you aren’t submitting your offer in person, take a photo of yourself and attach it to a letter explaining what you love about the seller’s home. Letting the sellers know how much this property would mean to you can add a lot of weight to your offer. I’ve personally seen a number of offers win using this strategy.

“Face-to-face interactions are always better than those done via email or the phone.”

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

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I have sold a property at 102 610 THIRD AVE in New Westminster.
Great location and loads of updates! This bright 2 bedroom 1 bathroom corner unit in Uptown, New Westminster is ideal for the first time buyers. Within walking distance to the skytrain, shopping at Royal City Centre, Tipperary Park, and Douglas College. Updates include: laminate flooring, fresh paint, new quartz countertops in kitchen and bathroom, new appliances - all done in 2017. Heat and Hot Water included in maintenance fee. This home feels like brand new! SOLD 19% OVER ASK
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What Do Changing Interest Rates Mean for You? The central bank recently raised the benchmark interest rate for the first time in seven years. What does this mean to you? For one, the rate increase reflects consumer confidence in our economy. Plus, if you’ve been thinking about making a move, you may want to get in the market sooner rather than later. To find out why, watch this short video.

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Located on the top of the hill in desirable Parkcrest neighbourhood, this 4 bedroom, 2 full bathroom bungalow offers a bright, spacious and functional layout. Updates include energy star double glazed windows both up and downstairs, house and garage roofs , new hot water tank and washer dryer. Original Oak hardwood floors upstairs, and new Beech laminate floors downstairs. BONUS HUGE 720 Square Foot Garage, with lane access, and additional front driveway with attached covered carport. Panoramic mountain views of Mount Baker, Diez Vistas, Burnaby Mountain, and Surrey. Steps away from Burnaby North high school, Kensington Park, Aubrey Elementary, and a park like setting across from Aubrey Elementary school and fields. Abundant mature landscaping in front and rear yards, providing additional privacy

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Please visit our Open House at 102 610 THIRD AVE in New Westminster.
Open House on Saturday, September 2, 2017 2:00PM - 4:00PM
Great location and loads of updates! This bright 2 bedroom 1 bathroom corner unit in Uptown, New Westminster is ideal for the first time buyers and investors alike. Within walking distance to the skytrain, shopping at Royal City Centre, Tipperary Park, and Douglas College. Updates include: laminate flooring, fresh paint, new quartz countertops in kitchen and bathroom, new appliances - all done in 2017. Heat and Hot Water included in maintenance fee. This home feels like brand new! Open House Sept 2 & 3, SAT/SUN, 2pm-4pm.
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Please visit our Open House at 102 610 THIRD AVE in New Westminster.
Open House on Sunday, September 3, 2017 2:00PM - 4:00PM
Great location and loads of updates! This bright 2 bedroom 1 bathroom corner unit in Uptown, New Westminster is ideal for the first time buyers and investors alike. Within walking distance to the skytrain, shopping at Royal City Centre, Tipperary Park, and Douglas College. Updates include: laminate flooring, fresh paint, new quartz countertops in kitchen and bathroom, new appliances - all done in 2017. Heat and Hot Water included in maintenance fee. This home feels like brand new! Open House Sept 2 & 3, SAT/SUN, 2pm-4pm.
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During the process of selling your home, there are certain things you should absolutely avoid. 
Today, I’d like to share four major seller mistakes that could negatively impact your home sale. 

  1. Selling your home by yourself. Doing this is a big risk. Certain data, such as the Multiple Listing Service’s sold information, isn’t available to you without the help of a professional. Additionally, when you sell your home without an agent, you are doing so without the kind of marketing leverage a professional can provide. Most homebuyers begin their search online. This means that you will need strong marketing to set your listing apart. Even if you do get your home sold, how can you be sure you did so for the highest price and with the best possible terms? Using an agent is always preferable.
  2. Pricing your home incorrectly. It’s difficult to know exactly how to price your home. In order to do so correctly, you’ll need to strike a balance between what is too low and what is too high. A home with a high price will bring buyers with higher expectations. Your home should ideally be priced to what the average potential buyer will be willing to pay. 

    “Having attractive photos of your home will always help you attract more buyers.”
     
  3. Using poor photography. With the majority of people turning to the internet when they begin looking at homes, the first impression your home will give off will be through photographs. Hiring a quality, professional photographer will be absolutely essential to ensuring that your home is put forward in the best possible light. Having attractive photos of your home will always help you attract more buyers.
  4. Ignoring your backyard. While curb appeal tips tend to focus on the front of your home, you should never neglect the state of your backyard. Remember to remove weeds and trim your hedges. If you need or would like help with completing this, I have a great list of professional landscapers who I would be happy to recommend to you.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon. 
 

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I have sold a property at 7893 WALMSLEY CRT in Burnaby.
This beautiful property is situated on a 8,940 sq ft lot (60' x 149') in a quiet cul-de-sac overlooking the North Shore Mountains and Burnaby Lake. 3 bedrooms and 2 baths on main. Top of the house has been renovated and basement is unfinished and ready for your dream renovation. Roof was redone 2014. New hot water tank 2013. Newer high efficiency furnace. New fridge and new dishwasher. Yard has mature landscaping, built-in BBQ and total privacy in the backyard surrounded by hedges. Great schools within walking distance are Lakeview Elementary and Burnaby Central High School and quick drive to SFU. Central location 10 minutes to Metrotown and steps to Deer Lake. SOLD IN 13 DAYS
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Did you know that trusting assessment data—or BC assessments—as market value can cost you a lot of money? It’s true, and today I want to explain why this is and what you can do instead to get an accurate valuation of your home. The main problem with BC assessments is they use an algorithm to determine value. Assessment data doesn’t know if you’ve remodeled your home or bathroom. 

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Please visit our Open House at 7893 WALMSLEY CRT in Burnaby.
Open House on Saturday, July 29, 2017 2:00PM - 4:00PM
This beautiful property is situated on a 8,940 sq ft lot (60' x 149') in a quiet cul-de-sac overlooking the North Shore Mountains and Burnaby Lake. 3 bedrooms and 2 baths on main. Top of the house has been renovated and basement is unfinished and ready for your dream renovation. Roof was redone 2014. New hot water tank 2013. Newer high efficiency furnace. New fridge and new dishwasher. Yard has mature landscaping, built-in BBQ and total privacy in the backyard surrounded by hedges. Great schools within walking distance are Lakeview Elementary and Burnaby Central High School and quick drive to SFU. Central location 10 minutes to Metrotown and steps to Deer Lake.
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I have sold a property at 411 7655 EDMONDS ST in Burnaby.
Bella - solidly built boutique building conveniently located at the center of Highgate Edmonds Community; nearby schools, parks, shopping, cafes, library, Edmonds Aquatic & Community Centre, Skytrain station, transit & easy access to Hwy 1. Large South East 1 + Den Penthouse unit w/ 11' super high ceiling, extra-large windows w/ lots of natural light into the unit, functional open floor plan, large skylight over gourmet kitchen w/ designer backsplash tile, pot filler faucet & granite counters. Huge balcony for lounging in the sun and your plants. Storage & parking included! Exquisite design of this unit allows for contemporary elegance & traditional spaciousness of this unit!
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Please visit our Open House at 411 7655 EDMONDS ST in Burnaby.
Open House on Saturday, May 6, 2017 2:00PM - 4:00PM
Bella - solidly built boutique building conveniently located at the center of Highgate Edmonds Community; nearby schools, parks, shopping, cafes, library, Edmonds Aquatic & Community Centre, Skytrain station, transit & easy access to Hwy 1. Large South East 1 + Den Penthouse unit w/ 11' super high ceiling, extra-large windows w/ lots of natural light into the unit, functional open floor plan, large skylight over gourmet kitchen w/ designer backsplash tile, pot filler faucet & granite counters. Huge balcony for lounging in the sun and your plants. Storage & parking included! Exquisite design of this unit allows for contemporary elegance & traditional spaciousness of this unit! Open Houses: Sat & Sun, May 6th & 7th, 2-4 PM.
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Please visit our Open House at 411 7655 EDMONDS ST in Burnaby.
Open House on Sunday, May 7, 2017 2:00PM - 4:00PM
Bella - solidly built boutique building conveniently located at the center of Highgate Edmonds Community; nearby schools, parks, shopping, cafes, library, Edmonds Aquatic & Community Centre, Skytrain station, transit & easy access to Hwy 1. Large South East 1 + Den Penthouse unit w/ 11' super high ceiling, extra-large windows w/ lots of natural light into the unit, functional open floor plan, large skylight over gourmet kitchen w/ designer backsplash tile, pot filler faucet & granite counters. Huge balcony for lounging in the sun and your plants. Storage & parking included! Exquisite design of this unit allows for contemporary elegance & traditional spaciousness of this unit! Open Houses: Sat & Sun, May 6th & 7th, 2-4 PM.
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I have sold a property at 903 585 Emerson ST in Coquitlam.
Opportunity to purchase a North Facing 9th floor, 1 bedroom 549 square feet at Bosa sold out Uptown 2. The Uptown towers are loved for their upscale features and desirable location, in the heart of Metro Vancouver's next great neighbourhood. Luxury amenities, spectacular views, ground floor grocery, parks, and shopping - mere steps from the Evergreen line. Move in this May 2017, this is an assignment of contract please contact agent for details. 2-5-10 warranty included. Buyer to pay GST.
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Tenants and the Need for Condo Insurance when your the Landlord

 

Being a Realtor I have always recommended everybody I knew to purchase condo insurance.  Now after years of paying for condo insurance premiums I had the misfortune to actually file a claim.  

 

The Story:

 

10pm - Water Intake line bursts

 

10pm - 10:15pm - Tenant evacuates the unit to pull the fire alarm.

 

10:15 pm - Tenant notifies landlord.  Instructions are given for the tenant to use the insuite unit water shut off valve.  

 

The Damage:  15 minutes of running water caused damage to 4 units and about $50,000.  Strata deductible of $10,000 My Insurance Deductible: $500.  Yearly premiums only $350, Gore Mutual Insurance your a life saver. 

 

Tip:

1) Always purchase condo insurance.

2) Renters should purchase content insurance so they can be placed in a hotel.

3) Detailed instructions should be posted in your rental condo on the location of both water shut off and electrical panel.

4) Even braided steel hoses can burst.  They should last 20 years.  This line must have been defective.

5) Never ever evacuate a home unless you are really in danger.

 

 

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I have sold a property at C302 8929 202 ST in Langley.
Quiet and Spacious one bedroom plus den 3rd floor condo at "The Grove" in Langley. Gated complex, SS appliances, granite counters and laminate flooring throughout. Nice Size patio that overlooks the courtyard with space for BBQ. Walking distance to shopping, restaurants, movie theatre and all amenities at your doorstep. Easy access to Hwy #1 and Golden Ears Bridge. 1 parking spot & 1 storage locker. SOLD Fast
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