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Last Week in Review


In the "bet you wouldn't have guessed this" category - Did you know that as of yesterday, the number of homes sold YTD in North Vancouver are just 18 homes less than this time last year?  Once weekend sales are reported, we may get very close to the same # of sales as YTD 2019.  Put this along side inventory at 80% of last year's levels, and add favorable rates plus a lower stress test, and you can see why our market is moving swiftly.
 
In West Vancouver, there have been 333 residential sales YTD 2020, and 317 for the same period last year.  And, residential inventory is only 75% of what it was this time in 2019.  This is great news for West Van - as the turnover is much better than 2019.
 
Summer is the new Spring - and now we just have to keep staying cautious & safe out there in the world, so that we can keep not only the real estate market, but our economy - both broad & local - going strong through the end of the year!
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Summer is the New Spring
The health crisis slowed the market this spring, so buyers are jumping back into the market to make their moves this summer.  Check these 10 items off your to-do list so your house is ready to sell while buying is hot!
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Last Week in Review

Summer is the New Spring!


Well, hello and welcome to June. Looking back to last week on the North Shore, we see the highest Sales to Listings Ratio since early March of this year. Impressive numbers ! 46% sales to listings in North Vancouver, and 61% in West Vancouver. The phone is ringing. The stress test has loosened. People feeling a little more comfortable in their day to day lives, and venturing our & about a little more. Plus, add some sunshine to the demand for North Shore homes ( people want to live here!), and you have a winning combination.


BUYERS: There's a little more choice for you now, in all categories.


SELLERS: This is the PERFECT TIME to book a Strategy Session with us so that we can help you get your home looking beautiful, and on the market before everyone else lists and your competition gets going!


Book your Strategy Session HERE

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Find the Sherpa


In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.


We are, however, in anything but a normal market right now. We are amid one of the greatest health crises our nation has ever seen. The pandemic has had a dramatic impact on the journey consumers take to purchase or sell a home. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’


According to Lexico, a Sherpa is a “member of a Himalayan people living on the borders of Nepal and Tibet, renowned for their skill in mountaineering.” Sherpas are skilled in leading their parties through the extreme altitudes of the peaks and passes in the region – some of the most treacherous trails in the world. They take pride in their hardiness, expertise, and experience at very high altitudes.


They are much more than just guides.

This is much more than a normal real estate market.


Today, the average guide just won’t do. You need a Sherpa. You need an expert who understands how COVID-19 is impacting the thoughts and actions of the consumer (ex: virtual showings, proper safety protocols, e-signing documents). You need someone who can simply and effectively explain the changes in today’s process to you and your family. You need an expert who will guarantee you make the right decision, especially in these challenging times.

Bottom Line

Hiring an agent who understands how the pandemic is reshaping the real estate processes is crucial right now. Find that ‘Real Estate Sherpa’ to guarantee your journey is a safe and successful one.

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The Benefits of Home Ownership

The benefits of Home Ownership are many - and with interest rates at amazingly low levels today - the joys of Home Ownership may be closer than you think!


Appreciation:
Home values tend to appreciate over time.  This increase becomes equity you can benefit from when you re-finance or sell.
 
Equity:
Renting has often been reffered to as paying 100% interest, but when you own a home and a mortgage is in place, a portion of your payment goes toward the principle balance of your loan. This builds your equity and acts as a savings account
 
Freedom to Make It Your Own:
Experience the joy of making your own repairs, upgrades & renovations - to ensure your space is a reflection of you.
 
Happiness:
The feeling of owning your own home is unmatched. You can fix it up, make it your own, get a dog or plant a tree if you want. Doesn't that sound exciting!
 
 
Build Wealth:
The sale of a principal residence, in the right location and at the right price, can certainly provide enough to boost, if not fully fund, your retirement and /or provide wealth to the next generation.

Put Down Roots:
People who own rather then rent stay in their homes 4 times longer. This provides an opportunity to get to know your neighbors and connect with your local community.

Check out our mortgage calculator HERE and get started planning today!
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Last Week in Review


Our current world reality has closed cinemas and handcuffed the service industry - not to mention run up one major government deficit.


Several recent forecasts have predicted everything from near-collapse to rapid house price growth once the outbreak passes.


While I am feeling more positive than negative, about our housing market I am not going to make predictions. 


Here’s what we know for sure:





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Last Week in Review

We anticipated April's numbers would be less favorable than those of March. Still, on the ground we see Sellers & Buyers finding ways to transact successfully, despite uncertainty. The good news is this situation is not systemic to the real estate or mortgage industry. If we’re not in a recession yet, we’re about to be in one. This time, however, most experts feel that housing will be the sector that leads the economic recovery.


BEWARE the articles in the MEDIA like the one we saw today whose headline reads, "BC Home Sales to plummet by up to 40% this month". What's the number you're going to remember here ? 40%, right ? But it's not until you read further in that it says, "compared to the same month last year". Spring is typically our busiest time for sales, and it is no surprise that this year is going to be different than last year! If you want to know what's going on in your neighborhood, talk to a Realtor who is working through this market and find out the true numbers in your area of preference. And you could also CLICK HERE


#realestate #northshore #realestatemarket #realestateagent #homeownershipmatters

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Virtual Home Buying Guide!
  • Virtual consultation!
    We will schedule an appointment by phone or video chat to learn what you are looking for in a home.
  • Home Search!
    We will email you homes that match your search criteria as soon as they hit the market.
  • Virtual Showing
    Depending on your preference, we can do a live or virtual tour.
  • Electronically Sign
    You will sign your documents from the comfort of your current home.
  • Virtual Inspection
    Home inspectors can walk through the findings via video and email you the reports.
  • Virtual Closings
    In most cases purchase documents can be signed electronically
  • Home Sweet Home
    We will deliver the keys to your new home

    Contact us to start your home search today! 604 984 7253
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The Week in Review
Home Sellers & Buyers are still finding success in our market. With extremely favorable interest rates, if you find yourself needing to buy or sell, this could be a very good time to do so. If you're not feeling comfortable with either, we understand. Still, there are lots of things we could be doing together to prepare you for when you ARE ready to consider a move.  You can call or email any time !
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What you can do to get your house ready to Sell


  • Believe it or not, there are lots of things you can do to prepare your house for a sale without even going to the store.
  • Your real estate plans don’t have to be completely on hold even while we’ve hit the pause button on other parts of daily life.
  • Tackling small projects from cleaning the corners you may normally skip to tidying up your yard are easy and necessary wins if you’re thinking of listing your house and making a move.
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What you need to know about deferring mortgage payments

With more than a million Canadian homeowners trying to defer payments, many with little success, five mortgage brokers offer insight and advice

 By - Joannah Connolly Glacier Media Real Estate - March 26, 2020



Since the banks announced that homeowners struggling in the COVID-19 pandemic could defer mortgage payments for up to six months, more than a million Canadians are reported to have tried to take up the offer.
 

But with phone lines jammed, and websites unable to process applications that are assessed on a case-by-case basis, many homeowners looking for a deferral or seeking answers have had little success.

Confusion reigns over what makes a homeowner eligible for an emergency deferral, how the program works, whether interest is payable and whether deferring payments will affect credit scores. Unfortunately, with the situation changing on a daily basis, and lenders forced to make up rules as they go, it has been impossible for most people to get any information.

To clear up some of these issues, Glacier Media Real Estate spoke with five mortgage experts who offered their insights and advice on some frequently asked questions.

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Being Safe about Chemicals in Your Home

You would have to visit your local pharmacy or science lab to rival the number of potentially dangerous chemicals in the average home. You likely store everything from fertilizers to acidic cleaners to gasoline and corrosive drain openers. Obviously, it makes sense to ensure that everyone in your home uses and stores such items safely.


For example, laundry detergent packs – which have become popular recently – are attractive to children. Keep them locked and out of sight. You should do the same with all laundry products. Even exposure to fabric softener pads can cause skin irritation to a child. Always read and follow the labels on household chemical products. Use and store them as directed.


Keep corrosive, such as harsh cleaners and drain openers, separate from other chemicals and in a place where, should they leak, they will cause minimal or no damage. Also never put a chemical in anything other then its original container. You don’t want to take the chance that paint thinner stored in an old water bottle, for example, is mistaken for water!


Finally make sure you have the phone number to your local poison control center in a handy place, such as your fridge door. You can find a list of numbers at www.CAPCC.ca

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