Below is a link to our latest Greater Vancouver Real Estate Board (REBGV) stats for August 2020.
Here are some highlights!
Top 3 areas for the most sales for DETACHED homes in August:
East Vancouver - 118 sales
Sunshine Coast - 155 sales
North Vancouver - 103 sales
Prices up 6.6% over August 2019
Top 3 areas for the most sales for CONDOS in August:
Vancouver westside - 343 sales
East Vancouver - 155 sales
Richmond - 141 sales
Prices up 4.5% over August 2019
Top 3 areas for the most sales of...
Many sellers ask me if they should renovate before lisitng their home for sale.
It depends.
If the entire home is in original shape, and you don't intend to renovate top to bottom, I would leave it as is. That provides the buyer with full rein to choose all new colors and textures for every room - which also creates a cohesiveness throughout the space. If you just renovate one room, like a bathroom or bedroom, the stark comparison to the rest of the home makes it look worse - and more work.
Sometimes...
Every month, our real estate board publishes the listing and sales activity for all municipalities in the lower mainland.
Below is a link to the Vancouver report!
file:///Users/bridgetross/Dropbox/July%20Stats.pdf
Here are some Vancouver westside highlights about how July 2020 compares to July 2019:
Houses - fewer listings available, down 25%
sales down slightly by 3.8%
prices up slightly...
If you are buying a condo in BC, I would highly recommend that you buy one that:
1. was built before the leaky condo period (1980's, 1990's)
2. has already been rainscreened
3. is a newer build
4. you work Monday to Friday 8-4 pm
...so you are not home while they jack hammer the concrete off the side of your building right out side your home office!
It is a noisy, messy process that generally takes up to a year depending on the size of your building. Yes, it will increase the value of your investment...
Home buyers and sellers have gradually become more active in each month of the COVID-19 pandemic. In June, home sale and listing activity in Metro Vancouver* returned to more historically typical levels.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,443 in June 2020, a 17.6 per cent increase from the 2,077 sales recorded in June 2019, and a 64.5 per cent increase from the 1,485...
Almost every offer I write for my Buyers these days, there are othe Buyers who want the same property at the same time! Especially for condos.
This really changes how I approach writing their offer. With the Buyer in agreement, there are steps you can take to prepare to win. prior to the offer presentation time.
1. For Condos, read all the documents you receive from the listing realtor. There are a lot of them! But if you read everything, as I will too, ask lots of questions, get professional opinions...
When you scroll through the myriad of real estate websites, there are always properties that really catch your eye. It could be the velvety green sofa or the mid-century modern teak dining room table or funky art on the wall.
It most certainly is NOT the close up of the toilet seat up or the pile of dishes next to the kitchen sink! Yes, first impressions are critical, and for real estate websites selling your home, all photographs posted online are first impressions.
That is why, before the photograher...
Recently, a client of mine, a lovely young lady and first time BUYER, purchased a one bedroom and one bathroom condo at 989 Nelson Street in downtown Vancouver. Prior to the late 1990's, this was the BC Hydro Building - an office tower.
I had never been in the building before and was really impressed with the successful conversion to condos. This unit faces the Wall Center and has an extra city view in its reflection! At only 496 square feet, the great layout made it feel more spacious.
This building...
Since the BC government has reopened all our public spaces and various businesses, we have seen a real increase in the number of people listing their homes, and as a result more sales.
We have now had almost 4 months of learning how to do real estate in a safe and productive way, with our masks, gloves, hand sanitizers and social distancing ( which is a bit tough in some of those small 1970's elevators!).
The busiest market is the condo market which is where home purchasing is still most affordable...
Be the first to know! Read our monthly housing market reports to get the most up-to-date statistics and to hear our perspective on what the latest buying and selling trends mean for you.
https://www.rebgv.org/market-watch/monthly-market-report/may-2020.html
Renovating your home?
Start small with one of the smaller rooms in your home - the bathroom!
Here are the top 10 trends for bathrooms this year. Which style do you like?
#3 EXPOSED SHOWER PLUMBING
“In bathrooms, we’re incorporating more exposed shower plumbing. The industrial look pairs beautifully with a white, modern marble.”
See the other 9 great ideas:
https://www.elledecor.com/design-decorate/trends/g23694206/bathroom-trends-2019/
In the City of Vancouver, as well as our North shore communities, you can buy beautiful, brand new modern homes. However, we have had a long history of this building aesthetic for the past 80 years.
A modern home is a style of design that embraces the idea of minimalism and the use of unconventional house materials such as glass, steel and concrete.
If you are a fan of the modern home (as we are!), you may find it interesting to note that the first house in the modern style was built in West Hollywood...
The speculation and vacancy tax rate varies depending on the owner’s tax residency. In addition, the tax rate varies based on whether the owner is a Canadian citizen or permanent resident of Canada, or a satellite family.
For 2018, the tax rate is:
For 2019 and subsequent years, the tax rate is:
The cost of housing is hitting seniors hard as the rate of those using property tax deferral has skyrocketed, while the reliance on rent subsidies for seniors is growing too fast.
That’s according to a new report by B.C.’s Seniors Advocate Isobel Mackenzie.
Learn more....
In Canada's most expensive market — Vancouver — house prices are expected to fall another 2.5 per cent this year, while sales remain flat. On Thursday, the Real Estate Board of Greater Vancouver said the benchmark price for a home, which is a composite of detached properties, townhomes and condominiums, fell by 2.7 per cent in December 2018 compared to the previous year.
Read on....
Read what Michael Geller has to say about small spaces:
At Vancouver City Hall, new councillor Colleen Hardwick was attempting to get council’s support to send the bylaw passed Sept. 19 to another public hearing with the aim of rescinding it.
Hardwick pointed out her NPA colleague Melissa De Genova and Green Party Coun. Adriane Carr rejected Vision’s duplex plan for single-family neighbourhoods in the previous sitting of council.
Learn more...
https://www.vancourier.com/real-estate/npa-councillor-blasts-colleagues-for-failing-to-rescind-du...
VANCOUVER — The City of Vancouver says it has collected $18 million from the first year of its empty homes tax and another $12 million could still flow into its coffers.
The city says in a news release that it expects to generate a total of $30 million from the first year of the tax which is applied to vacant residential properties in a bid to ease Vancouver's near-zero vacancy rate.
Learn more...
https://www.vancourier.com/real-estate/vancouver-expects-30-million-in-first-year-...
Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
The real estate industry is a key economic driver in British Columbia. In 2017, 35,993 homes changed ownership in the Board’s area, generating $2.4 billion in economic spin-off activity and an estimated 17,600 jobs. The total...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.
