August 2014

Home sellers here in Vancouver are often tempted to list their homes at a price considerably over their agent's recommendation. They want to "test the market" and just see if there isn't someone out there who will love it enough to pay more than buyers have been paying for similar homes.   They say "We're not in a hurry, so let's just try this and if it doesn't work we can lower the price."   Here's why that's a poor idea…   When a new listing comes on the market it gets the most attention it will ever get in the first couple of weeks. Agents who are searching for homes for specific buyers eagerly check out each new offering in hopes of finding "the one." Buyers who are searching without an agent do the same.   If a home is too far…

Does your home in Vancouver need a new paint job? Is there a cracked window, a hollow-core door with a hole, or even a torn window or door screen?   If so, correcting those problems before you put your house on the market can save you dollars in the long run.   You might be able to paint the house for $1,000 – especially if you have some do-it-yourself skills. Buyers will assume that it will cost much more. If they're really interested in the house, they may even get a bid – and of course it will cost far more for a professional to do the job.   The same can be said for replacing a window, repairing a torn screen, replacing a faulty light fixture, or any of a hundred small things that detract from your home looking "move-in…

When you want your house in Greater Vancouver area to sell quickly, you must do two things:   1. Price the house correctly. 2. Avoid "Buyer turn-offs"   What are buyer turn-offs?   The ones most often mentioned by buyers are all easy to avoid.   Odors – whether it's a kitty litter box, cooking odors, or scented plug-ins, buyers will react negatively. They don't want to smell anything but fresh clean air when they view a home.   Dirt and clutter – Unless they're shopping for a low-priced fixer, buyers are apt to reject a house if it's dirty – anywhere. And it doesn't have to be dirty all over. A sink full of dirty dishes or a muddy back door can be the turn off.   Clutter, such as unmade beds, piles of laundry, and…

You've been doing business with your bank here in Vancouver for years. They know you. They may even have given you an auto loan. You feel that you should be able to trust them, and you might believe you should be loyal to them.   It might not be a good idea.   It's true that your bank might be the best source of a home loan for you, but chances are, it isn't.   Why? Because banks each have their own rules and regulations. And unless you fit their narrow parameters regarding qualifications, you won't get a loan no matter how many years you've been banking with them.   You might be loyal – but banks have no such feelings.   A mortgage broker, on the other hand, might have 20 or more different loan sources, so your chances of…

Vancouver housing market continues to see slightly elevated demand from home buyers, steady levels of supply from home sellers and incremental gains in home values depending on the area and property type.

The Real Estate Board of Greater Vancouver reports that residential property sales in  Vancouver reached 3,061 on the  MLS® in July 2014. This represents a 3.9 per cent increase compared to the 2,946 sales recorded in July 2013, and a 10.1 per cent decline compared to the 3,406 sales in June 2014.

"This is the fourth consecutive month that the Greater Vancouver market has exceeded 3,000 sales,”  REBGV president-elect said. “Prior to this, our market had not surpassed the 3,000 sale mark since June of 2011.”

Last month’s sales were 3.8 per cent

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