Check List -

Spring Maintenance Items

for Your Home

(Courtesy Amerispec)

Now the SPRING has finally arrived - here are some great maintenance tips for your home.  Remember, a well maintained home sells faster, and for more $$ !

Foundation - Masonry - Exterior

• foundation walls, floors, concrete and masonry for cracking, heaving or deterioration
• chimneys for loose, deteriorated or missing mortar
• grading
• basement and crawl space for moisture or leakage after wet weather
• all wood surfaces for weathering and paint failure or deterioration
• all decks, patios, porch stairs and railings for loose members and deterioration
• eaves troughs
• foundation and attic vent screens for damage

 Roofs 

• any missing, loose or damaged shingles
• open seams, blisters or bald areas on flat roofs
• any evidence of water penetration in attic and ceilings after wet weather
• flashings around all vents, skylights, and other openings
• pre-fabricated chimneys for rust
• fascia and soffits for deterioration and damage

 Doors and Windows

•  all window and door hardware

Plumbing

•  water heater for leaks and corrosion
• lawn sprinkler system for leaky valves and exposed lines
• well water tested and checked for safety

 Interior

•  all tile joints for adequate grout and seal all grout lines
• caulking around showers, bathtubs, sinks and toilet base

Remix by Adera located on West 14^th Street just North of Marine Drive is a collection of 60 urban apartment homes.  There are about 22 homes remaining at this development, and we had the chance today to see the nearly-finished product, as we completed a pre-closing walk through with a client who purchased a one + den with an amazing rooftop deck.  We experienced great customer service with Curt, who showed us around very early this morning – we owe him a coffee!

The homes at Remix are truly a contemporary, urban, West Coast design, with hardi board exterior, cedar trim, and black railings.  The lobby is welcoming and generous, and there is a great on site fitness centre.  Floor plans are open & bright, and offer 9 foot ceilings – adding extra visual space.   The sights & sounds of Mosquito Creek are nearby, which is a great bonus in such a busy environment.

On the first level of this development, there is a unique blend of retail shops and public outdoor space.  A high walkability score means easy access to local shops, amenities, and everyday needs easily by foot or bike.

Homes range from one bed to two plus den, with several homes designed as live/work spaces with an at-home office. The North Shore offers an amazing natural setting and these modern homes will bring the outdoors in with good size balconies, private rooftop decks, and a West Coast landscaped second level roof.   Contact us for more details & pricing!

It's a tool used by house flippers all across the nation. Stagers know its power. Real estate agents push its importance. What is this not-so-well-kept secret of real estate? A kitchen can sell a house.  

A kitchen is the heart of a home. This is true all across the globe. The old saying that the "stomach is the way to the heart" carries a lot of truth. Kitchens are where we spend much of our time and most of that is with our families. It's the room where we nourish our bodies and our spirits.  

Kitchens are integral to entertaining and in today's age of open floor plans, they're a focal piece of many family rooms. It's because of this that kitchens play such an important role in the buying and selling process.  

This one room is the showpiece of the house. You'll see it every day and your guests will see it during most visits. This means buyers want homes with up-to-date kitchens.  

Kitchens, however, can be one of the most expensive rooms to renovate. These projects can also be the most labor and time intensive of all home renovations. It's not just a new layer of paint.  

Instead you find a complicated array of flooring, tiling, cabinets, and counters. This means buyers may want a home with an up-to-date kitchen but they aren't willing to tackle this problem themselves. Most buyers want a kitchen that is ready to use the day they move in.  

What do buyers look for in up-to-date kitchens? A lot of this depends on what price range your home is in.  

The main thing to remember as a seller is to not price yourself out of your market. If homes in your neighborhood are selling for $100,000 with tidy, but not luxury kitchens, then this is no time to upgrade to granite, travertine, and marble at the price tag of $40,000+. You simply won't find a buyer.  

Scope out the competition. Use open houses in your area or MLS listings to find out what your competitions' kitchens look like.  

Do area homes have new solid wood cabinets and granite counters in today's designer colors? You'll be wise to consider making the same move. Are they including new stainless steel appliances and add-ons like dishwashers, wine-coolers, and warming trays?  

Are you in a higher-end neighborhood? It's time to think high-end. Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel. If you don't want to put in the time yourself to make upgrades then you'll have to make concessions in the price.  

Don't become overwhelmed, though. Sometimes a kitchen update can mean doing just a few minor changes. Change the paint color to a warm, neutral tone. Get rid of any clutter. Update your appliances, paint your cabinets, change the pulls, or get a high-end looking counter for a fraction of the cost (man- made stone, or lower end granite). You might even save a bundle by doing much of the work yourself.  

The bottom line is a kitchen can sell a home. Do a little research and find out what your kitchen needs to make it competitive with area listings.

Spring has definitely Sprung !

The North Vancouver market is ACTIVE !  Of 111 detached sales in the month of March, 22 of those were in Lynn Valley & Westlynn.  There is limited supply in this community as folks move in & they stay !  However, if you are considering the sale of your home this year, then NOW is a great time to take advantage of conditions favoring SELLERS.

Of the 22 sales in Lynn Valley this past month, 13 of those sold at asking, or OVER asking.  There are some substantial selling prices out there!

Even apartment sales are picking up - which is great news!  The first Quarter of 2013 saw 16 apartment sales in Lynn Valley, with a median price of $360,000.  The first quarter of this year saw 20 sales, with a median price of $378,000.

Spring is always the busiest market time !  Don't wait until summer to list! Love graphs ?  You can see that evidenced HERE.

2014 marks our 25th year in real estate.  We are happy to share with you our knowledge about timing, strategy, preparation for sale, and anything else you'd like to know about that would affect your decision to make a move.

Home buyer and seller activity continues to mirror historical averages in the Greater Vancouver housing market. These trends have helped keep the region in a balanced state for the last nine months.

The Real Estate Board of Greater Vancouver reports that residential property sales in Greater Vancouver reached 2,661 on the Multiple Listing Service® (MLS®) in October 2013. This is a 37.8 per cent increase compared to the 1,931 sales recorded in October 2012, and a 7.2 per cent increase from the 2,483 sales recorded in September 2013.

New listings for attached, detached and apartment properties in Greater Vancouver totaled 4,315 in October 2013. This represents a 0.2 per cent decline from the 4,323 new listings reported in October 2012, and a decrease of 14.2 per cent compared to the 5,030 new listings reported in September of this year.

Last month’s sales were 2.8 per cent above the 10-year sales average for the month, while new listings for the month were 1.9 per cent below the 10-year average.

 “We continue to see fairly typical activity when it comes to monthly home sale and listing totals,” Sandra Wyant, REBGV president said. “Today’s activity is helping to keep us in balanced market territory, which means that prices tend to experience minimal fluctuation.”

The total number of properties currently listed for sale on the MLS® in Greater Vancouver is 15,257, a decline of 12.2 per cent compared to this time last year, and a decline of 5.3 per cent compared to September 2013.

The sales-to-active-listings ratio is currently at 17.4 per cent in Greater Vancouver.

The MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver is $600,700. This represents a 0.5 per cent decline compared to this time last year.

Sales of detached properties reached 1,067 in October 2013, an increase of 35.1 per cent from the 790 detached sales recorded in October 2012 and a 9.5 per cent increase from the 974 units sold in October 2011. The benchmark price for detached properties decreased 0.5 per cent from October 2012 to $922,600.

Sales of apartment properties reached 1,098 in October 2013, an increase of 36.7 per cent compared to the 803 apartment sales recorded in October 2012, and an increase of 14.6 per cent compared to the 958 sales in October 2011. The benchmark price of an apartment property decreased 0.9 per cent from October 2012 to $365,600.

Attached property sales totaled 496, an increase of 46.7 per cent compared to the 338 attached property sales recorded in 2012 and a 29.8 per cent increase compared to the 382 attached property sales recorded in October 2011. The benchmark price of an attached property is $458,000, which is virtually unchanged from October 2012.

For more information please contact:
Craig Munn, Assistant Manager, Communication
Real Estate Board of Greater Vancouver
Phone: (604) 730.3146 Fax: (604) 730.3102
E-mail:cmunn@rebgv.org

A Depreciation Report is a comprehensive study of the common physical components within a strata corporation, including an inventory and summary of all necessary renewals and maintenance for the next 30 years, plus a financial plan for the future.  As buildings age there are necessary costs incurred to maintain the common property and assets of the strata corporation.  A depreciation report will provide a strata corporation with the tools it needs to properly and accurately plan for the future.

These regulations will have a dynamic impact on BC's strata community, and the real estate industry.   Buyers will be even better informed in the future, as they will soon be able to ask for copies of the depreciation report so they know up front what they are buying into.  Mortgage providers will also want to assess risk when determining eligibility for financing.

Following amendments to the Strata Property Act, the Provicinal Government has introduced new guidelines making these reports mandatory for strata corporations in BC.  Strata Corporations of less than 5 units will be exempt from the requirements, plus a strata corporation may consider exempting itself by passing a 3/4 vote resolution every 18 months.  

HERE is a guide to assist consumers from the Condominium Home Owners' Association of B.C.

For additional help on what this may mean for you, visit the Condominium Home Owners' Association of BC website HERE.

The cool breezes of Autumn may bring relief from the summer heat, but for home owners, they also bring a reminder that it's time to start fixing, cleaning, and preparing for Winter weather.

If certain tasks are left undone, say the home and building inspectors from the Canadian Association of Home & Property Inspectors (CAHPI), then a home becomes increasingly vulnerable to air, moisture, and water penetration, which may eventurally cause structural problems. Whether done by the home owner or by a professional service contractor, preventative maintenance will prolong the efficiency and lifespan of a home's many components.

In addition to any obvious repairs that might be necessary, CAHPI recommends that home owners tend to the following each Fall in order to prevent minor problems from turning into major expenses.

1. Inspect the roof, using binoculars, for damaged, loose, or missing shingles. Repair as needed.
2. Check the flashing around roof stacks, vents, skylights, and chimneys as possible sources of leakage. Repair as needed.
3. Look for leaking, misaligned, or damaged gutters, downspouts, hangers, gutter guards, and strainers. Clean the gutters after all the leaves have fallen.
4. Cut back tree limbs growing on or over the roof, as well as shrubbery growing against the house, to prevent damage to the home's exterior.
5. Check all doors and windows for proper caulking and weather-stripping. Remove any worn or decayed materials and apply new materials as needed.
6. Drain exterior water lines, hose bibs, sprinklers, and pool equipment. (Do Not leave hose connected to bib).
7. Have heating system serviced annually (Fall is the best time).
8. Have the home you are considering on purchasing, inspected by a qualified home inspector, to obtain a complete report on th home's condition. Ask the home inspector what professional home inspectors' association he is a member of, and check his credentials with them.

For further information on Home Inspections, or to obtain the names of qualified home inspectors in your area, visit the website: www.cahpi.ca

The Real Estate Board of Greater Vancouver has just released its June report via Videocast, and you can view it by clicking here.  We are experiencing a busier July than anticipated - this is good for both Buyers and Sellers!

Vancouver, BC - June 14, 2013.  The British Columbia Real Estate Association (BCREA) reports that a total of 7,664 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC curing May, down 0.7 percent from May of 2012. Total sales dollar volume was 2 percent higher at $4.1 billion. The average MLS® residential price in the Province was $534,013 , up 2.7 percent from a year ago.

"BC home sales continued to trend higher in May" said Cameron Muir, BCREA Chief Economist. "In contrast to shlowing demand and modering prices in 2012, the BC housing market is turning around". Rising consumer demand combined with inventory levels that remian in check has moved the Province's largest markets into balanced territory. "Home prices have edged higher over the past three months in BC's large Lower Mainland market" added Muir. The MLS® Home Price Composite Index for the Lower Mainland was up 0.2 percent over the past month, and 1.4 percent over the past three months.

Year-to-date, BC residential sales dollar volume was down 12.2 percent to $14.9 billion, compared to the same period last year. Residential unit sales were down 10.7 percent to 28,140 units, while the average MLS® residential price was down 1.7 percent at $530,936.

VIEW PODCAST HERE

Want to know what's happening in the market right now ?  Supply and Demand are always a good place to start.  Listing inventory nearly at 1200 homes ( That's 498 detached homes, and the balance are apartments & townhomes)... and sales much slower than this time last year... although well priced properties still selling well !