Real Estate Blog

If you read reports on the real estate market in various cities across the nation, you'll run into the phrase "months of inventory."   What does that mean?   This figure is determined by looking at the number of homes for sale and the average number of homes that have sold per month over the past year.   If there are 1,000 homes for sale and only 100 homes have sold per month, there's 10 month's inventory. You're in what is commonly called a "Buyer's market." Homes remain on the market longer and generally experience price reductions. Sellers are also more likely to offer concessions in this kind of market.   If 500 homes sell per month, there are only 2 months' inventory, and you're experiencing a seller's market. Homes generally…
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News reporters may be trying to bring you accurate news about the housing market, but unless they're reporting facts and figures for real estate sales in Vancouver what they're saying could be completely inaccurate regarding our market.   Even if they're quoting agents in your general vicinity, they could be wrong.   For instance, I recently reviewed four real estate articles written about the market in cities within about a 200 mile radius. Three articles said the market was booming, with only 2 months' worth of inventory. The fourth article talked about the slump in sales and the number of never-occupied homes still unsold.   The real estate market is always local, so while it may flow along following national or regional trends, it…
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Everyone has an opinion and/or a prediction about rising or falling home prices and rising or falling interest rates. Potential buyers and sellers are left wondering if they should act now, or wait a while.   No one knows. But those really aren't the questions home buyers and sellers should be asking themselves.   For buyers, the right questions are:   
  • Do I plan to stay in this community for at least the next 3 or 4 years?
  • Can I find a home I'll enjoy living in for the next several years?
  • Will my credit scores allow me to take advantage of today's low interest rates on a fixed-rate mortgage?
  • Will the payments on that home fit comfortably into my budget, so that I can continue to enjoy my favorite activities?
If your…
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When you let friends and family know you're getting ready to purchase or sell a home, you'll get plenty of advice. As a real estate professional, I advise you to be wary of it.   Both buyers and sellers have been disappointed with their results when they took the wrong advice from a friend, a neighbor, an attorney, an accountant, Cousin Gus who sold real estate back in 1982, or Aunt Sally who sells real estate in another State.   But think about it…   Those who live in your community can give you at least one good bit of advice – they can recommend an agent who served them well (or warn you about one who did not.)   And anyone who has been involved in a real estate transaction recently can give you something more - warnings to help…
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With growing competition for well-appointed, properly priced homes in Vancouver, buyers who want to "win" must be ready to take action quickly.   That includes becoming pre-approved for a mortgage loan before you begin the search. You'll know your spending limit and any restrictions on the home you can choose. You won't waste time on homes that clearly won't work. It also includes being willing to drop everything and view a new listing if your agent calls and says "I think I've found it".   And then, of course, it means making the decision and writing the offer before "the perfect home" is under contract to someone else.   We're hearing the story repeated again and again – buyers see the house they love and decide to think about it…
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Vancouver homeowners are understandably disappointed when they list a home for sale and after months on the market it expires unsold. They wonder why, when other homes in their neighborhood are selling, theirs did not.   Often the reason why can be found in one of these common home selling mistakes:  
  • Overpricing
  • Poor presentation – failure to do the fix-up, clean-up,and de-cluttering activities their agent recommended.
  • Being present during showings
  • Putting limits on days and times for showing
  • Insisting on 24 hour notice for showings
  • Failing to negotiate low offers
  • And of course – choosing the wrong agent
If you're thinking of selling...   Before you choose a Vancouver agent, interview the agent, read his or…
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When you begin the search you're filled with the hope and belief that the perfect home is out there somewhere, just waiting for you to find it.   That could be true – but it probably isn't.   Searching for a home that you believe is perfect in every way can leave you frustrated, frazzled, and tired from spending days or weeks on the hunt.   So stop and think twice. Choose the most vital "must-haves" and focus on them. And think about the fact that you CAN make changes after the house is yours.   For instance, if you must have a fence for your dogs or for your children's safety, find out what it costs to have one built and adjust your housing budget to accommodate that expense. That new fence could be up within days of…
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If you're seeing plenty of potential buyers coming through your home for sale, but none are presenting offers, there could be a very good, yet disappointing, reason: Your price is too high in comparison with similar homes.   Your home is being used to encourage the sale of other homes in Vancouver.   Here's what happens: Agents first bring buyers to your home, then they take them to a similar home that is significantly lower priced. Compared to yours, the second home is a bargain, so they make an offer.   They could also be using your home as a comparison to homes of the same price that are priced correctly. Then the second home says "Look how much more you can get for the money when you choose me!"   If this is happening to you,
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You've heard it many times. Whether here in Vancouver or anywhere else in the world, home sellers need to be out of the house when buyers come through.   But why? What if the buyers and their agent have questions and need answers? I'm the one who knows all about this house.   Sellers need to be away for four reasons:   1. The seller's presence can cause buyers to leave before they've had time to fall in love with the house.   When the sellers are home, most buyers are shy. They're hesitant to open closet doors or turn on faucets to check the water pressure. They feel uncomfortable and won't stay long enough to really get a feel for the house or to stand around trying to decide if their furniture will fit.   2. Sellers who get
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